Magalong reports on fund sources of city projects

Mayor Benjamin Magalong said funds for regular projects being implemented in the city had been secured mostly from the local budget and external sources like senators, congressmen, government agencies and government owned and controlled corporations.

Large scale projects which require gigantic costs are subjected to the public-private partnership (PPP) process.

The mayor who is known for his ability to source out funds and ensuring quality execution of the projects said that despite the pandemic, the city was able to draw funds to execute projects in the pipeline.

“It is not hard to look for investors for the city.  Maraming gustong mag invest because they see good governance and find our government to be very transparent.  Hindi sila hinihingan.  We are proud to say that in our city, wala ang mga iyan (corruption),” he said.

He said the city remains to have a good credit standing so that it can be another option of funding for other projects.

“If ever we take out a loan, I can assure you that we are capable of paying it because we also work on projects that are income-generating,” he said.

He said the city’s mobilization for funds helped tide it over the pandemic despite having minimal budget for social services.

“During the pandemic, we only had P3 million for ayuda but when we mobilized, we produced P29 million which we used for food packs, financial aid like the TUPAD and other assistance and pandemic necessities,” he said. – Aileen P. Refuerzo