THE PIRATES

  Manila City Mayor Francisco ‘Isko Moreno’ Domagoso signed a P10-billion loan agreement with the Development Bank of the Philippines (DBP) to finance six grand infrastructure projects of his administration. The loan was granted under the Omnibus Term Loan Facility or OTLF. The agreement stipulates that the funds “can be reallocated to projects in the approved Local Development Plan of the City Annual Investment Plan.” The building projects include three schools — Dr. Alejandro Albert Elementary School, Rosauro Almario Elementary School, and Manila Science High School. They also include three residential buildings — Pedro Gil Residences, San Lazaro Residences, and San Sebastian Residences. The residential buildings will be added to the local government’s ongoing housing development projects, which are primarily for underserved sectors. Domagoso emphasized the need for low-cost decent housing for the City of Manila. “Housing is an urgent matter to be addressed by the state. I am referri