Politics · Philippines Bureau
Valencia City secures P2.74 billion development loan from LandBank
The Bukidnon city government has completed arrangements for a major financing facility to fund critical infrastructure projects including a new city hall and facility expansions.
LSN Philippines ·
VALENCIA CITY — The city government of Valencia in Bukidnon has officially concluded loan negotiations with the Land Bank of the Philippines for P2.74 billion, according to an announcement made Wednesday. The substantial financing package represents a major step forward in the municipality's capital development agenda and infrastructure modernization program.
The approved loan will be channeled toward high-priority capital expenditure initiatives across the city. Key projects slated for funding include the construction of a new Valencia City Hall building and the upgrade and expansion of existing municipal facilities, though full details of the comprehensive project list remain under review.
The financing arrangement with LANDBANK, the country's agricultural development bank, underscores the city government's commitment to accelerating economic growth and improving public services in the region. Valencia City officials have positioned the loan as instrumental in supporting long-term municipal development goals and enhancing service delivery to residents.
The city joins other local government units across the Philippines in tapping development financing to upgrade aging infrastructure and construct new civic facilities aimed at supporting regional growth objectives.