‘Mandaue City can fund market project’

By: Nestle L. Semilla - 8 years ago

MANDAUE City Hall can build its own public market without a bank loan, Mandaue City Treasurer Regal Oliva said.

Oliva said the funds to build the P400 million public market can be sourced from the city’s funds and its Internal Revenue Allotment (IRA) share.

Last year, the city applied for a loan from the Development Bank of the Philippines (DBP) to fund construction of the new public market in barangay Centro after the previous market building was damaged by the October 2013 earthquake.

“We have a number of documentary requirements that we need to comply with and we have not completed that. Still, we have funding for the public market,” Oliva said.