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Posts by tag: economic crisis

16 years ago

Land Bank borrowings to finance Davao city�s �stimulus� program

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Lawyer Wendell Avisado, city administrator, said the 2.8 billion pesos the city borrowed from the LBP this year will finance a local �stimulus� package, a large chunk of which will be spent on road infrastructure and the city�s traffic signal system. Avisado admitted that the traffic system will not directly help the people but it will add on to the city�s existing infrastructure and will serve as a come-on to investors. Read on