LGU Support Credit Program (LGUSCP)

Description

Re-lending program to Local Government Units (LGUs).

Eligible Borrowers

LGUs classified as “Prime”, “High”, and “Medium” in the LBP’s Credit Rating System. LGUs classified as “Lower Medium” are eligible on exception basis.

Loan Purpose

  • Low Cost Housing Development
  • Waste Disposal and its Allied Undertakings
  • Construction of Public Hospitals/ Rural Health Centers and Acquisition of Medical Equipment
  • Improvement/ Expansion of LGUs Water Distribution System
  • Environmental projects (e.g. , community-based forestry management, construction of seawalls, dikes, drainage and catch basin, coastal resources management, fishery/ aquatic resources management and development of alternative energy resources

Amount of Loan

  • Based on the requirement of the project but shall not exceed net borrowing capacity.

Term of Loan

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

Loan Security

  • Assignment of the 20% of the LGU’s IRA
  • Real Estate Mortgage
  • Chattel Mortgage.

Contact Person/ Number

Mr. Enrico Samaniego / 522-0000 local 2785

Note

Loan Closed