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CEBU CITY, Philippines — The Cebu City government is now debt-free. The city has received a certificate of full payment from the Land Bank of the Philippines (LBP) two weeks after it paid the balance for its…
CEBU CITY, Philippines — The Cebu City government has fully paid its 27-year-old loan for the development of South Road Properties and can now be considered as SRP debt-free. Lawyer Jerome Castillo, the special assistance for fiscal…
CEBU CITY, Philippines — While finally getting a fresh mandate from the public in the recent elections, Cebu City Mayor Michael Rama has not forgotten his running mate and partner in the 2019 elections, the late Mayor…
CEBU CITY, Philippines — The Cebu City Council managed to pass the P1.6 billion Supplemental Budget No.1 on a divided house. The council passed on Wednesday evening, March 2, 2022, the SB 1 that contains appropriations for…
CEBU CITY, Philippines — Cebu City may finally be debt-free by August 2022 if the Cebu City Council passes Supplemental Budget No. 1 (SB 1) on the next regular session. The budget and finance committee has completed…
CEBU CITY, Philippines — Former Cebu City Mayor Tomas Osmeña took a jab at the plans of incumbent Mayor Michael Rama on paying in full the remaining balance of the South Road Properties (SRP) loan. The city…
CEBU CITY, Philippines — Cebu City will finally be free from over a 25-year debt should the P4.4 billion supplemental budget that Mayor Edgardo Labella is asking will be passed by the City Council. Councilor Raymond…
CEBU CITY, Philippines — Cebu City Councilor Raymond Alvin Garcia, the chairperson of the City Council’s committee on budget and finance, said the city is close to paying off the P4.65 billion loan the city incurred in…
The Land Bank of the Philippines (LBP) has asked the Cebu City government to pay around P200 million or roughly 392 million Japanese yen as part of its loan for the reclamation of the South Road Properties…
THE proposed Supplemental Budget 1 (SB1) asking for an additional P13 million for the SRP loan payment which will be due this August 20 will likely be approved during this Tuesday’s City Council’s regular session. Councilor Joy…
Top officers of the Barangay Councilors League of the Philippines (BCLP) in Cebu City are supporting the sale of lots in the South Road Properties (SRP). In a news conference yesterday, BCLP officers led by its president…
Is the loan payment for the South Road Properties (SRP) too heavy to bear? At P500 million to P550 million a year, it’s a burden that requires special action for Cebu City, such as changing the currency…
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