The Provincial Government of Bohol (PGBh) and the Development Bank of the Philippines (DBP) sign the Omnibus Loan Agreement granting the former P483million loan to finance rehabilitation and improvement of nine (9) provincial hospitals and to purchase brand-new heavy equipment, according to a report from the Capitol media.
In the same report released on Friday, Jan. 15, 2021, the DBP represented by Ma. Ofelia Tesorio, Senior Assistant Vice President and Head of the Tagbilaran Lending Center, Yap and Provincial Legal Officer Nilo Ahat signed the agreement on Wednesday, Jan.13, 2021.
Moreover, the signing was witnessed by Provincial Budget Officer Peter Retutal, Provincial Treasurer Eustaquio Socorin, and DBP’s Mary Loise Medilo, the same report bares.
The loan proceeds will be used to finance the procurement of brand-new medical equipment under the PGBh’s Hospital Rehabilitation/Modernization program.
Likewise, the loan will finance the procurement of heavy equipment that will be used to support the various infrastructure projects in the province.