Iloilo (ēˌlōēˈlō) [key], city (1990 pop. 309,505), capital of Iloilo prov., SE Panay, the Philippines, on Iloilo Strait of Panay Gulf. With a fine harbor sheltered by Guimaras island, it is the principal port on Panay, with both interisland and overseas shipping. Iloilo is also a busy commercial center, with some manufacturing. It is known for its delicate, handwoven fabrics, made from silk and pineapple leaves. Central Philippine Univ., the Univ. of San Augustín, and a branch of the Univ. of the Philippines are there.