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Manila Bulletin devider Philippines devider Muntinlupa City government clarifies it has no loan with Landbank

Muntinlupa City government clarifies it has no loan with Landbank

Published Feb 22, 2022 06:49 pm

The Muntinlupa City government has clarified that it did not avail of any loan from Landbank of the Philippines.

Landbank issued a certification stating that the Muntinlupa City government has no loan from the bank.

Muntinlupa Mayor Jaime Fresnedi (Muntinlupa PIO)

“This is to certify that per records of this office, City Government of Muntinlupa has now outstanding drawdown as of December 31, 2021,” according to the certification issued by Landbank and signed by Lani Pornuevo, department head, Loan Operations Management Department.

Muntinlupa City Treasurer Erwin Vibora also issued a statement on Feb. 22 to say that the city government did not avail of any loan from Landbank.

“Last year, Muntinlupa was included in the 'Rise Up LGU Lending Program' of Landbank, a program that aims to lend funds to local governments to help to spur the local economy and to rise up from the effects of the COVID-19 pandemic,” said Vibora.

He added while Muntinlupa was included in the program, the city government has enough funds to finance the construction of the New Muntinlupa City Public Market, Muntinlupa City Aquatic Center, Sucat Senior High School Building and other projects included in the Local Development Plan or Annual Investment Plan of the city.

“Because of efficient management of finance, up to now, the Muntinlupa City government has not availed of the standby loan from Landbank,” he said.

The city government made the clarification after text messages circulated that a purported P1.2 billion loan from Landbank is being used to fund city projects.

In March 2021, the Muntinlupa City Council passed an ordinance authorizing Mayor Jaime Fresnedi to enter into a loan agreement with Landbank in the amount of P1.2 billion to fund various projects. The city government did not avail of a loan from the bank.

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Muntinlupa jaime fresnedi Landbank of the Philippines
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