Japan Bank for International Cooperation
The Cebu City Government was expected to pay PHP 1.528 Billion, a portion of the interest, to the Land Bank of the Philippines (LBP), conduit for the Japan Bank for International Cooperation (JBIC). Cebu City officials then blamed difficulties in getting titles and delays in marketing the 295 hectare SRP on the Talisay City Government, which was disputing Cebu City's application for the titling of the said reclaimed land.