MANILA, Philippines–Over 1,600 families currently living in “danger areas” throughout Metro Manila will soon be transferred to sturdier houses as the Department of Budget and Management (DBM) has approved the release of P188 million for the initiative.
In a statement issued on Monday, the DBM said the approved fund release for the state-run Social Housing Finance Corp. (SHFC) would allow the national government to not only buy lots for new housing units but also refinance housing loans.
The bulk of the release to the SHFC, which shall be charged against the 2014 budget, will go to the Responsableng Samahang Pampamayanan Village Phase I Homeowners Association Inc. (HOAI) project.
It aims to relocate 1,504 families living at the Payatas sanitary landfill as well as nearby Dahlia Creek, Darlo River, Diliman Creek, San Juan River and Tullahan River. The SHFC will spend a total of P127.6 million for the project.
The release shall also cover loan refinancing for two other projects in Quezon City, namely Bistekville II HOAI Block 6 and Bistekville II HOAI Block 16.