Landbank Supports Building of Oxygen-Generating Plant in Sorsogon
LANDBANK – The government bank approved the P94.5 million loan of the state for the building of an oxygen-generating plant in Sorsogon.
Most countries across the globe now are trying to defeat the COVID-19 pandemic the soonest time possible while facing the challenge of sustaining the healthcare system. It is more than a year now since the coronavirus was declared a pandemic by the World Health Organization (WHO).
Since the start of the pandemic, many healthcare professionals like doctors and nurses contracted COVID-19 in the line of their duties. Some of them died while some recovered and went back to providing care to the sick despite of all the risks.
Amid the fight against the pandemic, resources for the treatment also have to be sustained. The national government continuously calls for public and private agencies to help in assisting the needs of the healthcare system.
In response to the call for assistance to the frontliners and the healthcare system in any way possible, Landbank of the Philippines approved a P94.5 million term loan to fund an oxygen-generating plant in Sorsogon.
Based on a report on GMA News, Landbank will fund the purchase and the installation of the plant. It will be set at the Sorsogon Provincial Hospital and in partnership with the local government of the province.
According to the report, Sorsogon is getting its oxygen supply from a supplier in Camarines Sur. With the building of the oxygen-generating plant, it is eyed that the oxygen costs will be down from Php 490.00 to Php 157.00 for every tank refill.
The project is eyed to reach its completion early in 2022. Aside from this project in Sorsogon, Landbank also previously funded a Php 29-million oxygen-generating plant in Silay City, Negros Occidental. It supplies medical-grade oxygen to most district hospitals in the province.
You may also visit – Landbank Business Capital Loan: Who Are Qualified to Apply For It