MALASIQUI – The provincial board has given the nod to the request of Gov. Victor Agbayani for the province to apply for a fresh P300 million loan from the Land Bank of the Philippines.

Vice Gov. Oscar Lambino, presiding officer of the provincial board, said this is ion top of the P350 million loan earlier obtained by the province which is now almost fully paid.

Provincial Administrator Virgilio Solis, in a talk to the provincial board, said the new loan is necessary for the province to undertake projects, like roads, bridges and communal irrigation systems.

Lambino learned that the P350 million loan earlier obtained by the province that also financed various development projects in the past will soon be fully paid in 2007.

He said the provincial board already gave its imprimatur to the new loan pending the submission of a list of projects to be funded by proposed loan.

“We sought to the list because we want to make sure that the projects that would be funded the fresh loan of the province of P300 million with Land Bank will really be completed.

He vouched for the fact that Pangasinan was given a rating by the bank of triple A status, which means the province is a good loan borrower and can borrow more if it wants to. (PNA)