Pag-IBIG releases P101.5M for housing program

Inquirer file photo

MANILA, Philippines — The Department of Human Settlements and Urban Development (DHSUD) said on Sunday the Home Development Mutual Fund or Pag-IBIG Fund had released another P101.5 million in developmental loans for President Ferdinand Marcos Jr.’s flagship “Pambansang Pabahay Para sa Pilipino (4PH)” affordable housing program.

The funds will finance the construction of the Bocaue Bulacan Manor Housing Project in Barangay Batia, Bocaue, Bulacan province, north of Manila.

READ: DHSUD: Over 100,000 housing units due by 2024; 1 M units annually possible

The project will have five 14-story condominium buildings on a 14-hectare site and aims to provide 1,888 housing units for residents and government employees in the area.

“This release is yet another welcome support that will certainly fire up the implementation of ‘Pambansang Pabahay’ as we bring the plans into actual development,” said housing chief Jose Rizalino Acuzar in a news statement.

Acuzar thanked Pag-Ibig for its “continued support.”

It was the fourth tranche of the revolving developmental loan released by Pag-IBIG for Marcos’ program. In April, it provided P200 million for projects in Luzon and the Visayas regions. Another P350 million was released in February for a project in Palayan City.

“We have been monitoring the progress of this project from the beginning and we are glad to witness it has now come into fruition,” Acuzar said.

Pag-IBIG, one of the key shelter agencies under DHSUD, approved nearly P13 billion in revolving credit lines last year for two other housing agencies.