In a social media post, the Iloilo City Government is eyeing giant projects for the City of Love to ‘pump up the local economy as it still faces the coronavirus pandemic’. Some of the projects, as presented by the City Engineer’s Office, include a Legislative Building, Parking Building, the Iloilo City Action and Response (ICARE) Command Center, and district public markets in Jaro, Lapaz, Arevalo, and Mandurriao.
Iloilo City Mayor Jerry Treñas revealed that City Hall is considering bank loans to fund the projects. The proposed projects are believed to be multi-million developments.
“We met with City Treasurer and we identified projects. Our treasurer is now talking to DBP (Development Bank of the Philippines) and Landbank to discuss terms and conditions for financial requirements,” states Iloilo City Mayor Jerry Treñas.
Furthermore, Treñas shared that the projects are crucial to jumpstart the economy.
“We need to work on these and other income-generating projects for our economy to start moving. To our people, let us help the efforts to address this problem. We all have to live with this for the meantime even if we have fear. But if we continue to believe that it is important for us to recover with the gradual start of our economy, just like a car, it needs pump-priming. I think it is incumbent upon us in city government to think of projects so we can gradually jump-start our economy. Hopefully, together with all leaders of the city, we can do it,”said Treñas.