Landbank, Can-avid sign P220-M loan to upgrade water systems
TOWARD inclusive countryside development, the Land Bank of the Philippines (Landbank) and the municipal government of Can-avid, Eastern Samar signed a P220-million loan agreement to deliver better water service and minimize health hazards in the municipality.
Can-avid Mayor Gil Norman Germino and Landbank Samar Lending Center Head Restituta Ilagan led the loan signing on July 29 for the construction and upgrading of Canavid’s water system facilities.
Also present were Can- avid Municipal Accountant Celestino Cabanero, Landbank Borongan Branch Head Christopher Marco and Landbank Samar Lending Center
Account Officer Teofrido Lagria.
According to the municipal government, the project will deliver efficient, uninterrupted, and less expensive supply of potable water to more residents in the area, while reducing the incidence of water- borne diseases caused by unsanitary water sources by as much as 80 percent.
Can-avid’s water system will be upgraded from Level 2 to Level 3 to serve an additional six upstream barangays previously dependent on individual deep well systems.
“Landbank has always been a responsive and reliable partner servicing the needs of our municipality. The approval of our new loan will certainly boost the morale of local leaders as it manifests the Bank’s confidence in their leadership and serves as an affirmation of the meaningful programs that we undertake,” Mayor Germino said. Landbank’s financial services support local programs and projects geared toward accelerating local growth, which includes the construction of necessary infrastructure and improved delivery of basic services.