The agri-fisheries projects in Bohol get a boost following the ratification made by the Sangguniang Panlalawigan (SP) regarding the loan agreement between the Provincial Government of Bohol (PGBh) and the Development Bank of the Philippines (DBP), a report from the august body reveals.
The SP approved an ordinance allowing Gov. Arthur Yap to sign a loan agreement with the DBP, during the august body’s regular session on June 8, 2021.
The loan is eyed to fund the acquisition of machineries and post-harvest facilities for cassava and corn, as well as the acquisition of equipment for fishpond rehabilitation, according to reports.
The ratification by the SP of the terms of the DBP loan agreement is one of the requirements under the law, the report adds.
Earlier this year, the SP granted authority to Yap to negotiate and enter into a loan agreement with DBP for the said purpose.
The report bared that included in the loan agreement terms is the waiving of the right of the Provincial Government of Bohol to the confidentiality of information by authorizing the DBP, the Commission on Audit (COA), or other institutions to disclose to the Bangko Sentral ng Pilipinas any information relating to the above transactions, the report states.
