P475M loan for IN convention center OK’d FOLLOWING the signing of a memorandum of agreement between the Development Bank of the Philippines (DBP) and the Provincial Government of Ilocos Norte (PGIN), the groundbreaking for the proposed multi-million convention center for the province is expected next month. In an interview after the MOA signing, Ilocos Norte Governor Ferdinand R. Marcos Jr. said that on October, the provincial government would start opening the bids of contractors, paving the way for the construction of a convention center in the province to be erected in Barangay Balacad, Laoag City. The proposed site is just five minutes from Fort Ilocandia Resort and Casino and the Laoag International Airport (LIA). As specified in the loan agreement, DBP will grant P475 million to the provincial government at a fixed interest rate of 10 percent with a three-year grace period. Marcos clarified that the provincial government is responsible for the construction of the center as he assured that the overall management would be given to private individuals to insulate it from politics. He expressed optimism that by doing so, the province would have a greater advantage as the convention center would generate more investments, job opportunities and employment while increasing the tourist influx. The proposed convention center had long been a dream of the governor because of the absence of a hotel that could accommodate hundreds of delegates. Recently, a number of convention organizers from Manila, as well as Asian countries, had expressed their desire to hold conventions in the province but since there is no facility that would accommodate them, the province lost out in hosting those events. With a favorable business climate in the province, the convention center is also expected to open new avenues for economic development and livelihood opportunities. Present during the MOA signing were officials and representatives from the DBP, Sangguniang Panlalawigan members Michael M. Keon and Mariano V. Marcos II, provincial treasurer Josephine Calajate, provincial legal counsel Jaime Agtang and other key Capitol officials, who stood as witness in the signing. The signing coincided with the governor’s birthday celebration at the Provincial Capitol. Leilanie G. Adriano
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