Pag-IBIG allots P250B for PBBM’s housing program

December 5, 2022 Jun I. Legaspi 339 views

PAG-IBIG Fund’s allocation of P250 billion to President Ferdinand “Bongbong” R. Marcos Jr.’s (PBBM) “Pambansang Pabahay para sa Pilipino” highlighted the inclusivity of the flagship housing program.

Thus, said Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Rizalino Acuzar as he stressed the huge impact of such funding support on the roll-out of the housing projects.

“Ito po ang patunay na ang Pag-IBIG Fund ay handang tumulong sa lahat ng gustong magkaroon ng sariling bahay, lalong-lalo na po ang ating mga kababayan na salat sa buhay,” Acuzar said.

“This also highlights that President Marcos’ Pambansang Pabahay para sa Pilipino Program is inclusive. Unity po ito ng lahat ng stakeholders sa housing sector,” he added.

The housing czar reiterated his gratitude to Home Development Mutual Fund (HDMF) or Pag-IBIG Fund Chief Executive Officer (CEO) Marilene Acosta for her all-out support.

“With this funding support, we are very optimistic (about) the roll-out of Pambansang Pabahay. We are on the right track,” Acuzar stressed.

Acosta, for her part, welcomed DHSUD’s direction in fast-tracking, coordinating, and bringing together all relevant sectors to usher the Marcos administration’s flagship housing program into fruition.

She cited the significance of collective efforts in promoting inclusive growth and how it will largely benefit minimum wage earners, low-income earners, and the sectors considered underserved and unserved who depend on the government to provide them with homeownership opportunities.

“I have high hopes that this partnership will lead the way and show other local government officials that they are not alone in solving the housing problems in their areas. With our LGUs (local government units) providing areas for housing development that have access to livelihood, education, and basic services, not only are we providing homes, we are building productive communities,” Acosta said.

“Pag-IBIG Fund strives in synergy, we have long recognized that we will not be successful if we act alone. We need the trust, support and equal responsibility of our partners and members to make the program work,” she added.

Acosta likewise assured that they are ready to provide financial and technical assistance to ensure the Pambansang Pabahay program’s success.

Pag-IBIG Fund earlier committed P250 billion as a loan fund available for homebuyers, LGUs, developers, contractors and other qualified stakeholders under President Marcos Jr.’s Pambansang Pabahay para sa Pilipino Program.

Also, the Fund signed a Memorandum of Agreement (MOA) with DHSUD and Bacolod City Mayor Albee Benitez that would pave the way for the construction of 10,000 housing units for informal settler families.