Cebu City receives pledge of P1.3B from investors

·1 min read

CEBU City Mayor Michael Rama's "investment begging" yielded over P1.3 billion worth of funding commitment for the completion of the Cebu City Medical Center (CCMC) and the construction of multiple medium-rise buildings (MRBs).

Lawyers Colin Rosell and Jerone Castillo presented on Tuesday, August 16, 2022, the result of Rama's week-long meeting with different business tycoons in Manila to seek funding for different projects in pursuit of the mayor's goal of achieving a Singapore-like city.

Rama was able to secure P800 million to finish CCMC and another P575 million to build five MRBs.

With the pledges that poured in for the completion of the CCMC, the City Government is confident that the hospital can be finished within Rama’s first term.

Rosell said they prioritized CCMC when they made their pitches since the facility is vital amid the ongoing threats of the coronavirus disease 2019 pandemic. (IRT, PJB)