The Bureau of Local Government Finance and Rare, Inc., organized an online seminar entitled “Accessing Financing Opportunities for COVID-19 LGU Recovery” last June 23, 2020. Attended by local officers and officials from partner LGUs of Rare on coastal fisheries and resource management, the webinar tackled the available financing windows for LGUs to address the effects of the Covid-19 pandemic.
Director Ma. Pamela Quizon of the Local Fiscal Policy Service discussed the loan application process and the documents needed by LGUs to secure a Certificate of Net Debt Service Ceiling and Borrowing Capacity from the BLGF. Mr. Rustico Noli Cruz, Assistant Vice President of the Development Bank of the Philippines, and Mr. Generoso David, Assistant Vice President of the Land Bank of the Philippines, presented and explained the financing windows being offered by their respective financial institutions. The speakers also gave their advice on the benefits and advantages of credit financing for local development projects.
Towards the end of the session, Dir. Quizon told the LGU participants that the BLGF central and regional offices are open to assist them and answer their queries regarding LGU borrowings.