Debt free: Mandaue fully pays loan

MANDAUE CITY, Cebu— Mandaue City has officially became a debt-free LGU after it fully paid its remaining P22 million loan.

Oliva said the city loaned P250 million in 2006 for the construction of the city’s former public market at the back of the Mandaue City Cultural and Sports Complex that was damaged by the 2013 earthquake.Oliva said the city immediately paid the remaining P22 million balance after it got the insurance from the old building worth around P36 million from the Government Service Insurance System .

“Fiscal policy gyud nato diri sa Mandaue ang proper use of government funds. The more pa gyud karon nga naay pandemic.

wow! that's quite an achievement!

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