TALAVERA, Nueva Ecija, Philippines – This town’s mayor signed on Thursday a P111-million loan with the Land Bank of the Philippines to finance her administration’s various pro-jects, including a solution to the traffic problem here.
Mayor Nerivi Santos-Martinez signed the memorandum of agreement in behalf of the municipal government in a simple ceremony at the municipal hall. Signing in behalf of the Landbank were account manager Lito Rivera and Eduardo Reyes Jr., department manager of the bank’s Nueva Ecija Lending Center.
The loan will bankroll pro-jects listed in the town’s annual investments plan for 2014.
Last February, Santos-Martinez asked the municipal council led by Vice Mayor Anselmo Rodiel III to pass an ordinance approving the proposed terms and conditions for the projects that include road concreting, asphalt overlay, construction of classrooms and a gymnasium, and improvement of the public market, among others.
Santos-Martinez said an important component of the road project is the concreting of a network from the national highway to Barangay Sampaloc and another stretch from the public market also leading to Sampaloc spanning 750 linear meters.