Land Bank of the Philippines Leasing and Finance Corporation is putting up a branch at New Clark City in Capas, Tarlac to serve the financial needs of different government agencies once the National Government Administrative Center is fully developed.
State-run Bases Conversion and Development Authority and Malaysian partner MTD Clark Inc. signed a memorandum of agreement with LLFC for the establishment of a leasing and financing facility for NGAC.
“The MOA will be historic in a sense that it will not only greatly assist the fast-tracking of the New Clark City development but will open new doors for government agencies to avail of this novel instrument, which has not been fully utilized in the Philippines,” said BCDA president and chief executive Vince Dizon.
Under the agreement, BCDA, MTD and LLFC will collaborate on a framework to provide a viable option for government agencies to avail of LLFC’s leasing and financial facilities for the acquisition of an office building or office space in NGAC.