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P12-B Pag-IBIG credit line for NHA boosts PBBM housing program, says DHSUD chief

Philippines | National

P12-B Pag-IBIG credit line for NHA boosts PBBM housing program, says DHSUD chief

By Martin Sadongdong

The P12-billion credit line approved by the Pag-IBIG Fund for the National Housing Authority (NHA) will further bolster the momentum of the "Pambansang Pabahay para sa Pilipino (4PH) Program by President Ferdinand Marcos Jr.

Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Rizalino Acuzar stressed this on Friday, Dec. 22, as he lauded the Home Development Mutual Fund (HDMF) or Pag-IBIG Fund for its commitment to support the 4PH.

"Pag-IBIG's dedication is a huge boost to bringing the 'Pambansang Pabahay' to reality. It continuously opens more doors for Filipino people to own a home that is decent yet affordable in sustainable communities," said Acuzar, who also sits as the Pag-IBIG Fund Board of Trustees chairperson.

PAg-IBIG Fund has approved a back-to-back funding for two key shelter agencies to support housing projects under the 4PH.

Last Wednesday, Pag-IBIG Fund said it has approved a P12-billion revolving credit line for NHA which was intended to finance the development of 9,110 housing units. An initial 6,967 homes will be built in Quezon City, Valenzuela, Zamboanga, and San Juan as part of the 4PH Program.

Acuzar said the credit line is equipped with safeguards for the proper and efficient use of funds, with the NHA providing the corresponding loan collaterals.

Earlier, Pag-IBIG said it has also approved a P929-million revolving credit line for the Social Housing Finance Corporation (SHFC) to fund the construction of 2,264 housing units in Pampanga, Manila, Misamis Oriental, and Davao City.

Related Tags

DHSUD pabahay

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