Angeles City council allows mayor to secure P600M loan for coronavirus vaccines | Inquirer News
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Angeles City council allows mayor to secure P600M loan for coronavirus vaccines

/ 05:09 PM January 26, 2021

ANGELES CITY—The city council has authorized Mayor Carmelo Lazatin to secure a P600 million loan to purchase coronavirus vaccines for the city’s 411,634 residents.

The council approved Resolution No. 947-01-21 on Tuesday (Jan. 26) afternoon, Vice Mayor Vicky Vega confirmed in a phone interview.

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Vega said the loan has to be from “any credible financial institution.” The resolution had been filed by Councilor Arvin Suller.

Irish Calaguas, Lazatin’s chief adviser, said the city government was not raising taxes to pay the loan.

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“The net borrowing capacity of Angeles City is P2.9 billion as certified by the Bureau of Local Government Finance,” Calaguas said in a radio interview.

In a phone interview, Calaguas said Lazatin ensured there was money available for the vaccines.

Calaguas said the mayor had dispatched 20 survey teams to confirm household profiles in the city’s 25 villages.

She said the city government will comply with guidelines and directives by the national government in the procurement, handling, storage and administration of the vaccines.

Edited by TSB

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TAGS: #COVID19PH, Angeles City, council, Loan, Regions, Vaccines
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