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