A total of 2,264 housing units are set to rise in Pampanga, Manila, Misamis
Oriental, and Davao City as Pag-IBIG Fund approved a P929-million revolving
credit line for the Social Housing Finance Corporation (SHFC) to fund housing
projects under the government’s Pambansang Pabahay para sa Pilipino Housing
or 4PH Program, Pag-IBIG Fund’s top officials announced Friday (15 December).
“I am happy to report that our key shelter agencies remain united in their mission of
bringing opportunities for homeownership closer to our fellow Filipinos, especially the
underserved. With Pag-IBIG Fund’s approval of a revolving credit line for the SHFC, we
are now better equipped to provide our informal settler families (ISFs) with affordable
housing in a safe environment under secured communities, which is what we envision
under the 4PH Program of President Ferdinand R. Marcos, Jr.,” said Secretary Jose
Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban
Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.
Pag-IBIG Fund’s revolving credit line for the SHFC shall finance the construction
of medium and high-rise condominiums under the 4PH program consisting of
996 units in San Fernando City, Pampanga, 352 units in Tondo, Manila, 416 units
in Tagoloan, Misamis Oriental and 500 units in Davao City. To ensure the proper
and efficient use of funds, the revolving credit line contains safeguards which
include the corresponding loan collaterals provided by the SHFC, a maximum
payment term of three (3) years and provisions ensuring the release of funds for
the intended projects.
Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile, stated
that Pag-IBIG Fund’s credit line for the SHFC is part of its commitment to the
Marcos Administration’s efforts of addressing the housing backlog under the
4PH Program.
“Pag-IBIG stands as the single largest source of home financing in the country today,
with a share of nearly 40% of the home mortgage market. We recognize our role in
providing the financing for socialized housing projects so that these become more
accessible and affordable for low-income earners. We are happy to partner with the SHFC
under the Pambansang Pabahay para sa Pilipino or 4PH Program, so that our ISF
communities will now have a better chance of owning quality homes in sustainable
communities. Our members can expect more similar partnerships to provide them even
more opportunities to own a home,” Acosta said.
