Cebu City’s SRP loan interest reduced

THE Land Bank of the Philippines reduce the interest rate on Cebu City’s loan for the South Road Properties (SRP) from two percent to 1.5 percent.

The Cebu City Local Finance Committee met with LBP officials Monday morning during which the LBP granted the city’s request to reduce the loan interest.

Councilor Margot Osmeña said the interest rate reduction will become effective starting next year.