PNoy Did Not Allow 3-Billion Loan For Tacloban
The country’s top official President Benigno “Noynoy” Aquino III has refused to sign the 3-billion concessional loan to Tacloban. The fund will supposedly be used for the rehabilitation of the most affected City when the super typhoon Yolanda hit the Philippines in 2013.
In a report published by The Standard, Tacloban Mayor Alfred Romualdez said that the 3-billion loan was offered by World Bank to help in the restoration of damaged infrastructures in Tacloban, including the roads, hospitals, city hall, and public markets.
According to the report, the documents of World Bank and government showed that the package was 90 percent grant and 10 percent loan. It means that the government will only pay 300 million of the total fund, amounting to 3 billion.
However, president Noynoy Aquino refused to sign the grant. This prompted the World Bank to withdraw the loan which was offered in 2014.
Last year, the government of Tacloban said that they needed 3 billion to fund the rehabilitation projects. Mayor Romualdez also said that they are willing to seek loans to fund the said projects.
“If the city can avail of a nice loan package that can give us good rate and grace period of three to four years, that will definitely help the city pick up right away,” Philstar quoted him.
Mayor Alfredo Romualdez made headlines aftermath of typhoon Yolanda following after he was involved in a spat with former DILG secretary and presidential candidate Mar Roxas.
Meanwhile, people took the social media to express their sentiments about the issue, saying that the administration should help in the recovery of Tacloban including other regions that were affected by the calamity.