Pag-IBIG Fund has approved housing loans amounting to P20 billion
The Pag-IBIG Fund has recently greenlit close to P20 billion in housing loans, marking a significant step towards supporting the government’s Pambansang Pabahay Para sa Pilipino (4PH) initiatives. This substantial approval translates to funding for approximately 18,000 housing units.
During the Kapihan sa Manila Hotel event held on Wednesday, Pag-IBIG Chief Executive Officer Marilene Acosta shared insights into the progress of the 4PH projects. These projects are currently underway in various locations such as Bacolod, Palayan City, Pampanga, and Bulacan.
Acosta, who brings with her 41 years of experience at Pag-IBIG Fund, highlighted the organization’s commitment to contributing P250 billion to the administration’s ambitious plan of constructing 6 million houses. This commitment is set to be utilized over the next six years, serving as a crucial component of the administration’s flagship housing program.
Optimism abounds within Pag-IBIG Fund as Acosta expressed confidence in the program’s success, underscoring its potential to address the country’s substantial housing backlog, which exceeds 6.5 million units.
Describing the commitment as “seed money,” Acosta echoed sentiments from Department of Human Settlements and Urban Development Secretary Jose Rizalino Acuzar, emphasizing Pag-IBIG’s pivotal role in driving progress towards realizing Filipino families’ dreams of secure and affordable housing.
Acosta emphasized the importance of collaboration among all stakeholders to tackle the housing challenge effectively, stressing the involvement of beneficiaries and buyers in the process.
She also highlighted the national government’s efforts in providing interest subsidies for housing loans, with proposals in the House of Representatives aimed at institutionalizing these subsidies to ensure continuity.
In addition to financial support, Pag-IBIG is extending technical assistance to the Department of Human Settlements and Urban Development (DHSUD) to facilitate the implementation of housing projects.
Pag-IBIG is also reaching out to informal settler families (ISFs), with initiatives tailored to address the housing needs of the 40 percent of employed ISFs. Acosta emphasized Pag-IBIG’s inclusive approach, ensuring that even those in the informal sector have access to housing opportunities through various programs and support mechanisms.
News: Pag-IBIG Fund has approved housing loans amounting to P20 billion
