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BY TIFFANY ANNE TAN
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BACOLOD City – Capitol may use the 20-percent development fund for 2017 for the amortization of its loans, according to the Sangguniang Panlalawigan of Negros Occidental.
Of the P566.5 million total fund, P205 million will be used for amortization.
The Provincial Development Council approved the 20-percent development fund in October.
Other appropriations will be sourced from the remaining P361.5 million, said Provincial Board member Salvador Escalante, committee on finance chairman.
Meanwhile the Provincial Board also approved the P6.8-billion 2017 provincial Annual Investment Program (AIP).
Of the amount, P4 billion was earmarked for economic development, P1.2 billion for infrastructure development, P840 million for institutional development, P641 million for social development, and P84 million for environment development.
The AIP is considered capitol’s “wish list” of projects, programs and activities it hopes to carry out in the intended year, Escalante said./PN
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