Cavite City now debt-free

August 13, 2023 Dennis Abrina 312 views

THE local government unit of Cavite City is now free from debt.

Cavite City Mayor Denver Reyes Chua made the announcement during last Monday’s flag-raising ceremony.

Chua said Cavite City’s accumulated loan or debt from the Land Bank of the Philippines under previous administrations reached over P270-million.

“It can be considered a great achievement not only for me but for all Caviteño citizens to be able to wipe out such huge debt,” the mayor said.

Chua said he is proud of the success of his first year of tenure as mayor, particularly the projects he initiated such as the Medcare Center, the new Cavite City Montano Gymnasium, Cavite City College, and the Cavite City Public Hospital.

“As long as the leader of an area has a vision, is caring and there is no corruption, you can do a lot for the people,” the Cavite City mayor said.

Based on the certificate posted by the local chief executive, the LGU has no outstanding loan balance as of July 26, 2023.

The certification was signed by Hernando Reyes Jr. of the Loan Operations Field Unit of Land Bank Dasmariñas City, Cavite.