City’s proposed loan above board, says PVB exec
BACOLOD CITY — Philippine Veterans Bank (PVB) Vice President for Corporate Communications Mike Villa-Real recently expressed his assurance to all the people of Bacolod that the P250 million loan applied by the city government was carefully studied by the bank.
The statement was made by Villa-Real in reaction to the rally undertaken by some sectors last Monday expressing their opposition to the said loan.
He said that the transaction or loan applied by the city government is above board and has strictly followed the rules and regulation promulgated by the Central Bank of the Philippines.
“With reference to the rally done outside the PVB Bacolod Branch last Monday regarding the P250 million loan granted to the City of Bacolod, we would like to give the assurance that said P250 million loan has been carefully studied by both parties. It is above board and has strictly followed banking regulations as promulgated by the Bangko Sentral ng Pilipinas and other pertinent laws of the Republic of the Philippines,” Villa-Real said.
He also said that the purpose of the loan package made by the Bacolod City Government is to finance its development projects for the benefit of its people. “This has been a thrust of the Bank, to help provide adequate and affordable financing for local government units around the nation in its efforts to help spur countryside development,” Villa-Real added.
On the other hand, Mayor Evelio Leonardia scored his political opponents who derailed their goal for a better Bacolod. “The political opposition is working overtime to undermine our program for the people of Bacolod. Last Monday, a motley group of people identified with one mayoralty aspirant rallied in front of the Veterans Bank to protest the P250 million loan. Bacolod is taking to pursue its squatters relocation program,” Leonardia said.
“I assure our church people that we shall follow procedures and they can always inquire and check in the spirit of transparency,” Leonardia stressed.
