BusinessWeek Mindanao (December 31 - January 3, 2022)

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MERRY CHRISTMAS AND A HAPPY NEW YEAR!

BusinessWeek M I N DA N A O CREDIBLE

Volume XII, No. 87

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Briefly High hopes for BARMM COTABATO City – Officials of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) are keeping their hopes up to weather all difficulties brought about by the coronavirus disease 2019 (Covid-19) pandemic. This came about as BARMM officials said they are doing everything they can to help the region keep up with the “new normal” pace amid the pandemic. “We have to live and be attuned to this new way of life. As leaders, we have to live by example to the Bangsamoro that there is this hope that we can rely on and assure them that everything will be alright,” Naguib Sinarimbo, the region’s interior minister, said during an interview with reporters Thursday.

Rehab fund THE Department of Finance (DOF) will draw this week $80 million (about P4 billion) of the World Bank’s (WB) $500 million standby credit line extended to the Philippines to support the national government’s disaster relief and rehabilitation efforts in provinces devastated by Typhoon Odette. Finance Secretary Carlos Dominguez III said the WB’s 4th Disaster Risk Management Development Program with a Catastrophic Deferred Drawdown Option (CAT-DDO4) would provide the government immediate access to funds for its ongoing efforts to aid the recovery of “Odette”-hit areas. "This week, the DOF will draw $80 million from the World Bank disaster financing loan to fund the amount with cover in the 2021 budget," Dominguez said.

Income survey BUTUAN City – The Philippine Statistics Authority in Caraga (PSA-13) on Friday urged the residents in the Caraga Region to support the scheduled 2021 Family Income and Expenditure Survey (FIES) Visit 2 from January 11 to 31, 2022. In a press statement Friday, Rosalina Apura, the PSA-13 director, said around 8,616 households will be involved in the conduct of the FIES Visit 2. “The FIES Visit 1 was already conducted last July 2021 with the first semester or January to June as the reference period. The second semester of 2021, or July to December will be the reference period for the FIES Visit 2 in January,” Apura said.

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By FROILAN GALLARDO, MindaNews

HE Archdiocese of Cagayan de Oro is up in arms against a casino that has opened i n t h e n ei g hb or i ng municipality of Opol, Misamis Oriental.

In a pastoral letter, Archbishop Jose Cabantan decried the opening of a casino in Barangay Taboc, Opol town along the Cagayan de OroIligan highway. Whatever “economic development or revenues” the casino may bring could not be justified as it would lead to the breakup of families, Cabantan said. He said the casino would just create a culture of gambling and CASINO/PAGE 11 EDITORIAL EXCELLENCE. BusinessWeek Mindanao Editor-in-Chief Nelson Constantino (right) receives his Editorial Excellence award from Publisher/CEO Dante Sudaria (center) and Mindanao Daily News Comptroller Danica Sudaria Hallasan during the 3rd Mindanao Governance and Excellence Awards held at Ayala Centrio on December 29, 2021. photo by gerry lee gorit

NorMin 2021: From viruses, storms to peace and order, global fame By PHILIPPINE NEWS AGENCY

S OM E wou l d c ons i d e r 2021 to be an unfortunate extension of 2020 as the country continued to fight off the coronavirus disease 2019. But not everything in 2021 was bad news for Northern Mindanao as the year also saw milestones in peace and order in the region, and homegrown talents conquering the global stage.

Aside from the pandemic, another health obstacle faced by the region was the African swine fever (ASF). First reported in 2020 in Iligan City, ASF cases were eventually recorded in February 2021 in the hinterland barangays of this city and some municipalities in Misamis Oriental province, with two municipalities in

Lanao del Norte also affected in November. With this, the Department of Agriculture – Northern Mi nd ana o ( DA- 1 0 ) , i n coordination with respective agriculture offices of local governments, depopulated about 13,223 ASF-infected hogs, mostly from backyard hog raisers. Hog raisers were given indemnification of P5,000 NORMIN/PAGE 11

PNB extends P2.4-B loan to hydro project in Bukidnon By MYRNA M. VELASCO, Contributor

KALIRING. Boys play “kaliring” in Barangay Asinan in Pilar town in Siargao Island on Wednesday, December 29, 2021. A telecommunications tower in the background collapsed when typhoon “Odette” hit the island. mindanews photo by roel n. catoto

TAN-led Philippine National Bank (PNB) has extended P2.4 billion loan to bankroll the construction of the proposed 12-megawatt Mangima runof-river hydropower project to be sited in Manolo Fortich in Bukidnon province. The omnibus loan and security agreement was signed this December between project developer Mangima Hydro Power

Corporation (MHPC) and lender-bank PNB. Signing the loan deal were PNB President Wick Velos o and PNB Executive Vice President Cenon Audencial Jr. and MPHC Chairman Nicandro Linao, who is also the head of Sta Clara International Corporation (SCIC) that has been engaged as engineering, procurement LOAN/PAGE 10

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