LGU Investment Program 2 (LIP 2)

Description

Re-lending program to Local Government Units (LGUs)

Eligible Borrowers

Municipalities, Cities and Provinces in Mindanao

Loan Purpose

  • Local roads and bridges, including provision of maintenance equipment and improvement of streetlights.
  • Sanitation, drainage and flood control, including construction of low-cost treatment facilities and provision for sludge collection and transportation.
  • Rehabilitation of public facilities, including purchase of equipment for environmental monitoring relating to general hygiene and sanitation, slaughter houses, public parks, parking spaces, hospitals, schools and other structures related to seashore facilities to accelerate productivity.
  • Telecommunication and information technology
  • Water Supply
  • Public Market and bus terminal
  • Mini hydro-electric
  • Preparation of feasibility study
  • All other income generating project except solid waste management projects.

Amount of Loan

  • Based on investment requirement of the sub-project but shall in no case exceed Net Borrowing Capacity of an LGU

Term of Loan

  • Maximum of 15 years with two years grace period on principal

Loan Security

  • Assignment of regular income including portion of internal revenue allotment
  • Assignment of income from project/s to be financed out of the loan proceed (if applicable)
  • Real Estate Mortgage
  • Chattel Mortgage
  • Hold-out deposit

Contact Person/ Number

Mr. Enrico Samaniego / 522-0000 local 2785

Note

Loan Closed