IN time with the celebration of its 425th Foundation Day, Malabon City Mayor Jeannie Sandoval revealed that her administration has inked a memorandum of agreement with the Development Bank of the Philippines that would ensure the implementation of more health and infrastructure projects, among others.
Sandoval and City Administrator Alex Rosete led the MOA signing with DBP President and Chief Executive Michael de Jesus who announced the bank’s granting of P3-billion as loan to the local government’s socio-economic developmental projects.
She said the agreement would be a huge start for the premier government financial institution to launch its programs that would help fund the city government’s initiatives.
”This would surely improve the delivery of services to the Malabueños as more programs for health, housing and other socio-economic development would be funded by the DBP,” said Sandoval.
While De Jesus said DBP’s Accelerating Sustainable Economic and Social Empowerment through National and Local Initiatives to Overcome Challenges (ASENSO) financing program was aimed at providing financing assistance to all levels of local government units in the accomplishment of its projects to accelerate infrastructure and socio-economic development consistent with the goals in Philippine Development Plan.
”Primarily, the funds would be used for infrastructure projects to address different issues including informal settlement, illegal parking of vehicles, and lack of hospital facilities,” the city official said.
Earlier named by the RP Mission and Development Foundation Inc. as the Top Performing Mayor in Metro Manila based on its March 18-24 survey, Sandoval expressed gratitude to DBP for its confidence and trust in her leadership.
Sandoval has vowed to lessen the number of informal settler families in the city by building housing projects including the mid-rise housing projects at Sisa Exit and Paladium Street in Barangay Tinajeros.
Among the proposed projects include the construction of a five-storey multi-purpose building with deck in Barangay Tañong which will support businesses, provide jobs for the residents, and bring the local government services closer and more accessible to them and the Ospital ng Malabon’s extension building to allow the health facility to offer more free health services for the resident
Construction of the Malabon Sports and Convention Center in the same barangay that will provide a space for residents to conduct conventions, meetings, seminars and sports events is also underway.
