E.B. Magalona Mayor Marvin Malacon on Friday said the Municipal Government will avail a P200-million loan from the Land Bank of the Philippines for the town's market rehabilitation and acquisition of heavy equipment, and computerization.
Malacon said the Municipal Council had already approved a resolution authorizing them to obtain the loan.
He said that P140 million will be used to renovate the market while P50 million will be utilized to acquire heavy equipment and P10 million for the computerization.
"We need to renovate the building because it is already old. Some of the businessmen and vendors were also requesting for its improvement," Malacon said.
He added the existing market building is a 70-year-old structure and is already dilapidated.
The mayor said they are waiting for the releasing of the fund as they are targeting to start the project before the year ends.
