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LANDBANK funds 40-M municipal hall in Nunungan, Lanao del Norte


December 11, 2020

An artist’s perspective of the three-storey municipal hall of the Municipality of Nunungan in Lanao del Norte, expected to be completed next year through a P40-million term loan from the Land Bank of the Philippines (LANDBANK). (inset) Nunungan Mayor Marcos M. Mamay (3rd from left) and Treasurer Leonides B. Seronio (2nd from left) sign a loan agreement with LANDBANK Lanao Lending Center Head Nena P. Mendoza (1st from left) and Account Officer Virginia C. Gallego (4th from left) to finance the construction of the new municipal hall.

NUNUNGAN, Lanao del Norte – Nestled in the hinterlands of Lanao del Norte, this third-class municipality is now getting more attention as an eco-tourism sanctuary and an investment haven down south. With the recent completion of the town’s national road concreting project—seamlessly connecting its 25 barangays—the journey of Nunungan towards a more progressive community is well underway.

As part of its vision to better serve its constituents and accommodate its growing visitors, tourists and investors, the Municipal Government of Nunungan aspires to have a modern, spacious and well-structured municipal hall. And backed by Land Bank of the Philippines (LANDBANK), the construction of the building becomes possible, and will likely be completed by next year.

This developed after the local government signed a P40-million term loan agreement with LANDBANK last September 9, 2020 for the construction of a three-storey municipal hall in Sitio Bobong, Barangay Katubuan. The loan signing was led by Nunungan Mayor Marcos M. Mamay and Treasurer Leonides B. Seronio, together with LANDBANK Lanao Lending Center Head Nena P. Mendoza and Account Officer Virginia C. Gallego.

“Ito ang pinakamatagal na naming plano, na magkaroon kami ng modern municipal hall. Knowing na competitive na ang Nunungan dahil sa mga tourist attractions, pinagsisikapan talaga namin na magkaroon ng bagong municipal hall. Madaming dumadayo dito pero wala tayong maayos na municipal hall for accommodating them and their needs,” said Mayor Mamay.

Once completed, the new municipal hall will be a significant part of the municipality’s vision of creating a government center with a grandstand, health center, fire station, and outdoor courts, among others, which Mayor Mamay envisions as another landmark site in the town, and will bring greater convenience to local residents who need to transact with various government offices.

The new hall will likewise serve as a facility to accommodate the existing and potential investors of the municipality. These investors are also expected to benefit from the unified services of the local government, especially in processing business permits.

Prior to the P40-million loan, the local government also borrowed a total of P75.2 million from LANDBANK in 2015 which was used to acquire heavy equipment that includes a six-wheeler dump truck, 10-wheeler dump truck, prime mover, low bed trailer, motor grader, vibratory compactor, and bulldozer. These are being utilized for the construction of new roads across the town, and the periodic maintenance of existing roads to ensure easy access to farms and timely transport of goods to the market.

“We at LANDBANK commit ourselves to improving the lives of all Filipinos by providing the needed financial support of LGUs in rolling out development projects in their localities. We always look at our LGUs as valuable allies in promoting development that is inclusive and sustainable,” said LANDBANK President and CEO Cecilia C. Borromeo.   

Aside from delivering intensified support to the agriculture sector, LANDBANK has been supporting local government units (LGUs) across the country to accelerate local growth.

As of October 31, 2020, LANDBANK has extended loans to LGUs amounting to P51.59 billion, with P17.18 billion of this representing loans to finance agri-aqua projects, including farm-to-market roads, slaughterhouses, and irrigation systems.

For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), or visit the LANDBANK website (www.landbank.com).


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