The price of progress in Iloilo City is written in billions. Since 2008, the city government has piled up ₱3.7987 billion in loans—funds that built a new City Hall, expanded schools, financed markets, and pushed forward a city hospital.
Data obtained by IMT NEWS showed that the Development Bank of the Philippines (DBP) remains the city’s biggest lender, carrying ₱2.723 billion of the total debt. These borrowings span projects from a ₱293-million sanitary landfill in 2012, to a ₱1.75-billion package in 2022 for market rehabilitation, a city hospital, and a multi-level parking facility.
More recently, Iloilo borrowed ₱200 million for a relocation site and ₱180 million for a slaughterhouse in 2023, followed by another ₱300 million in 2024 for unfinished market works.
The city’s financial obligations extend further. From the Land Bank of the Philippines, Iloilo owes ₱711 million from 2008 for the construction of the City Hall and ₱354 million from 2016 for school buildings.
A ₱10.7-million loan from the National Housing Authority in 2012 funded infrastructure for a resettlement area.
Former mayor Jerry Treñas, who led many of these borrowings, defended the city’s loan strategy.
In a February 12, 2025 statement, Treñas said the ₱1.75-billion DBP loan was used for “development projects that directly benefit the people,” highlighting the rehabilitation of Jaro Big Market, La Paz Market, and Arevalo Market, along with the city hospital and parking building. Of the loan, ₱940 million was earmarked solely for markets, with Jaro and La Paz each getting ₱395 million and Arevalo ₱150 million.
The former mayor also pointed out that the city obtained another ₱300 million from DBP in August 2024 to finish the phased construction of market renovations.IMT
