The BLGF issued 22 new Certificates of Net Debt Service Ceiling and Borrowing Capacity during the month, more than triple the seven certificates issued in July last year. Local government units (LGUs) must obtain the certification before contracting loans from government or private lending institutions for proposed projects. The July approvals were equivalent to 49.9% of the recipient LGUs’ combined borrowing capacity of P17.01 billion. Municipalities accounted for 17 of the 22 certificates issued during the month, while four cities and one barangay received certifications. In the first seven months, the BLGF issued 137 certificates covering P35.89 billion in proposed borrowing against combined borrowing capacity of P99.27 billion.