BACOLOD CITY, June 9 (PNA) — One of the consultants for the multi-million Negros First Cyber Centre is eyeing the project’s smooth completion after the funds needed for the construction will soon be available.
Lawyer Jocelle Batapa-Sigue said the Sangguniang Panlalawigan has granted Governor Alfredo Marañon Jr. the authority to enter into contract with Development Bank of the Philippines (DBP) for the P243.6-million loan.
The loan will finance the remaining program of works for first phase of the three-story information and communications technology complex in Paglaum Sport Complex.
Once completed, Sigue, also the executive director of Bacolod-Negros Occidental Federation for Information and Communications (BNEFIT), said marketing of the project will kick off.
Earlier, Provincial Administrator Enrique Pinongan said that the Cyber Centre was just 43 percent complete since the remaining balance for P450-million loan it has with DBP was not yet fully released.
Throughout the period that the loan balance was not used, the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) amended the requirements for government loans.
It now requires that it should endorse the loan request first before DBP can grant it, he said.
The new rule prompted Maranon to ask anew the SP to pass an ordinance authorizing him to enter into a loan agreement with the DBP.
The governor also requested the SP to authorize him to enter into loan contract with the Land Bank of the Philippines for the P170 million funds needed for the second phase of the project.
The Negros First Cyber Centre, when fully functional, is estimated to cost a total of P650 million and the rentals from businesses that will occupy the building will pay for the amount within eight years.