By Brian Jules Campued
A total of P200 million in loans were released by the Home Development Mutual Fund, or Pag-IBIG Fund, for the housing projects under the Pambansang Pabahay Para sa Pilipino (4PH) Program of the Marcos administration.
In a news release on Monday, the Department of Human Settlements and Urban Development (DHSUD) said two private contractors currently implementing 4PH projects in Luzon and Visayas received P40 million and P160 million on April 5 and 8, respectively.
DHSUD Secretary Jose Rizalino Acuzar welcomed the release of developmental loans as he underscored the private sector’s participation in addressing the growing housing backlog in the Philippines.
“More than the actual value of the loan, it’s the confidence that these releases build on our private partners, especially private contractors/developers, that is huge for the success of our Pambansang Pabahay,” Acuzar said.
“Malaking bagay din ito para mahikayat natin pati mga private banks na sumali na sa 4PH,” he added.
Pag-IBIG Fund chief executive officer Marilene Acosta, likewise, echoed Acuzar’s remarks on working with stakeholders in the housing industry to secure decent homes for Filipinos.
Acosta said the agency is ready to finance housing projects under the government’s flagship program through its Direct Developmental Loan Program.
“More Pambansang Pabahay projects would mean more supply of quality homes at lower-than-market prices,” she said.
During DHSUD’s 5th anniversary on Feb. 14, Pag-IBIG Fund handed over P350 million in funding for the Palayan City Township Project.
According to DHSUD, at least 30 housing projects nationwide are currently being implemented in various stages of development and construction. – av
