MANILA CITY – The Bureau of Local Government Finance (BLGF) Capacity Building Division (CBD), in collaboration with the Local Debt Monitoring and Evaluation Division (LDMED), conducted an Online Learning Session on LGU Credit Financing in three batches, held last 24, 25, and 31 August 2022 via Zoom, which was participated by over 1,200 attendees composed of local treasurers, assistant treasurers, Local Chief Executives (LCEs), and members of Sanggunian and Local Finance Committees.
Officer-in-Charge (OIC) Executive Director Ma. Pamela P. Quizon, in an opening message, emphasized the importance of credit financing in addressing the short to medium term financing gaps brought by the Covid-19 pandemic to the local government units (LGUs) and the national economy.
“Credit financing, as an important pillar of fiscal decentralization, must be carefully and strategically utilized to ensure that LGU loans are used only for well-designed programs and projects that will lead to local economic recovery and resiliency, improve the local revenue base and tax administration, promote tourism and connectivity, and ensure resiliency of local communities”, OIC Executive Director Quizon said.
The said online learning session is part of the BLGF’s nationwide public information and consultation (PIC) campaigns aimed to raise the awareness and knowledge of the participants on the concept of credit financing and its technicalities, especially, on the processing of the Certificate of Net Debt Service Ceiling and Borrowing Capacity (CNDSBC) and disseminate information on the BLGF’s role in domestic borrowing.