MANILA, Philippines — The provinces of Cavite, Batangas, and Nueva Ecija led the surge in local government units seeking the green light from the central bank to take on more loans during the second half of last year, according to the monetary regulator.
Data from the Bangko Sentral ng Pilipinas (BSP) showed that Cavite submitted for clearance two loans totaling P4.6 billion that would be used to finance the construction of a government complex as well as a provincial wi-fi project including the procurement of bandwidth for it.
Batangas, on the other hand, wants to take out a P4-billion loan that will be used to fund COVID-related projects including service vehicles and heavy equ…
Keep on reading: Cavite, Batangas, Nueva Ecija LGUs lead 72% spike in requests for BSP loan approvals