Iloilo City eyes P500-million loan for Sports Arena

Iloilo City—The city government is eyeing a P500-million loan either with Land Bank of the Philippines or the Development Bank of the Philippines to finance the construction of the Iloilo City Sports Arena.

During Monday’s regular session of the Sangguniang Panlungsod, the local council passed a resolution authorizing Mayor Jose Espinosa III to negotiate on behalf of the city government for the proposed loan agreement.

Espinosa, in his letter to the council, said the city government is “most-likely co-host with the province of Iloilo when national sports events are being held yearly.”

These include the Batang Pinoy, Palarong Pambansa, Unigames and National Open.

He, however, said it is “unfortunate” that the city lacks basketball and volleyball courts that can pass the requirement for hosting a national tournament.

The lack of these facilities “limits the discovery of local aspiring athletes for amateur and professional level likewise to host games of the University Athletic Association of the Philippines, National Collegiate Athletic Association, and Super Liga.”

“As a sportsman, I believe we owe it to our youth to give them the best sports facility that we can offer,” Espinosa said.

The mayor envisioned a 5,000-seat arena that can be offered to international games such as the Southeast Asian Games and Asian Games. 

The project has been included in the 2017 to 2019 Annual Development Plan of the city government and has been approved by the Iloilo City Local Development Council. 

Topics: Land Bank of the Philippines , Development Bank of the Philippines , Mayor Jose Espinosa III
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