Bacolod’s P6.5-B loan emerges as major issue at start of local campaign

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Bacolod Mayor Albee Benitez says basic social services will not be affected as 'our financial obligation every year is less than what we projected to earn in the succeeding years'

NEGROS OCCIDENTAL, Philippines – The local campaign in Bacolod City started on Friday, March 28, with the P6.5-billion loan of Mayor Albee Benitez’s administration emerging as a major election issue.

Vice Mayor El Cid Familiaran, running for mayor under Team Elcid, criticized Benitez for the loan, saying it will strain the city’s finances for the next 10 to 15 years and deprive residents of essential social services.

Familiaran claimed city hall will have to pay P700 million annually starting next year due to the P6.5-billion loan under Benitez’s administration and a P1.7-billion loan from former mayor Evelio Leonardia’s term.

BET. Bacolod Vice Mayor El Cid Familiaran, who is running for mayor, speaks to the media before his party’s caravan on Friday, March 28. Ambo Delilan/Rappler

The Benitez administration’s loans include P4.4 billion from the Development Bank of the Philippines, released in July 2023, and a P2.1 billion under a build-transfer-maintain agreement with Highdata Infra Corporation for a centralized command center.

For his part, Benitez said basic social services will not be affected as “our financial obligation every year is less than what we projected to earn in the succeeding years.”

Outgoing Bacolod Representative and mayoral candidate Greg Gasataya, running under Benitez’s Team Asenso, said he is prepared to lead the city government despite the debt, adding he has plans to keep Bacolod financially stable.

Familiaran faces a direct contest with Gasataya, while former mayor Leonardia, a member of Team Elcid, is challenging Benitez for the city’s lone congressional seat.

Benitez defeated Leonardia in 2022 by more than 60,000 votes.

Both teams held campaign kickoffs on Friday with Team Elcid at Bacolod Public Plaza and Team Asenso at Paglaum Sports Complex. – Rappler.com