The Negros Occidental provincial government is still waiting for the Bangko Sentral ng Pilipinas Monetary Board decision on its P156.4 million loan from the LandBank of the Philippines and P40 million loan from the Philippine National Bank, Provincial Administrator Enrique Pinongan said yesterday.

Pinongan said he was informed that the Monetary Board took up the request for approval of the Capitol loans Thursday afternoon but he did not know what the outcome was.

We were told a letter would be sent to us on the Monetary Board decision, Pinongan said.

The Monetary Board approval is a new requirement for availing of loans that has delayed LGU implementation of projects nationwide.

The Monetary Board opinion was sought by the provincial government for its P156.4 million loan from the LBP to finance its importation of 5,690 Dorper/Damara ewes and 310 Dorper/Damara rams from Australia at P83.42 million andP39.38 million for the construction of additional support structures for the Negros First Ranch in Sta. Rosa, Murcia, Pinongan said.

Also covered by the P156.4 million loan are P3.990 million to finance the constructionof a sulfur dipping pool and P9.810 million for the acquisition of furniture for the 28 new rooms in seven cottages at the Mambukal Resort in Murcia, and P19.8 million for the construction of a road going to PhilRice in Cansilayan, Murcia, he added.

The P83.42 million payment of the sheep from Australia was taken from existing Capitol funds for other projects that will be reimbursed on approval of the LBP loan.

The P40 billion from the PNB is for the construction by the provincial government of classrooms at the Negros Occidental High School, the completion of which has stalled because of the delay in the release of the loan.*CPG

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