The Land Bank of the Philippines (LandBank) has authorised a loan of PHP200 million to fund infrastructure development and rehabilitation projects in Calayan, Cagayan. The loan will have a 15-year term and will be funded through Restoration and Invigoration Package for a Self-sufficient Economy towards Upgrowth for LGUs (RISE UP).
A portion of the loan will be utilised to fund works at the Calayan community airport as well as finance the construction of a 100 m bridge in Barangay Naguilian.
Till date, LandBank has delivered PHP94.03 billion in loans to 346 local government units through its RISE UP Lending Program.