By Katrina Gracia Consebido
The Home Development Mutual Fund or Pag-IBIG Fund on Monday, Nov. 28, announced its commitment to provide P250 billion to Pambansang Pabahay para sa Pilipino Program of President Ferdinand R. Marcos Jr.’s administration.
Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Rizalino Acuzar approved the allocation fund for the establishment of the housing program which aims to build six million housing units in the next six years.
“This is a huge boost to our President’s Pambansang Pabahay para sa Pilipino Program –a giant step towards realizing the dream of every Filipino family to have decent, safe and affordable shelters,” Acuzar said.
Acuzar is optimistic on the success of the program which is outlined to address the country’s housing backlog of over 6.5 million.
The DHSUD is tasked by the President to build one million housing units annually.
Pag-IBIG Fund also signed a Memorandum of Agreement with Bacolod City Mayor Albee Benitez for the construction of 10,000 housing units for informal settler families.
Acuzar said the agreement will provide more housing programs, particularly the financial structure and participation of government financial institutions and the private sector.
“The Department of Human Settlements and Urban Development is in the right direction in providing adequate and affordable housing to fellow Filipinos,” Benitez said during the MOA signing in Quezon City.
Meanwhile, Pag-IBIG Fund Chief executive Officer Marilene Acosta vowed to provide financial and technical assistance for the fulfillment of the project.
“We fully welcome the direction of DHSUD in fast-tracking, coordinating, and bringing together all sectors concerned towards the immediate implementation of housing project in the region,” Acosta said. – gb
