Pag-IBIG allocates P250B for 'Pambansang Pabahay Program'

Joyce Balancio, ABS-CBN News

Posted at Dec 01 2022 07:29 PM | Updated as of Dec 01 2022 07:43 PM

MANILA — The Home Development Mutual Fund, more commonly known as Pag-IBIG Fund, said it has allocated P250 billion for the "Pambansang Pabahay Program" of the Marcos administration, a project that aims to build at least 6 million affordable homes for Filipinos within 6 years.

"Ito po ay parte po ng ating Developmental Loan Program kung saan po ay nag-allocate po ang Pag-IBIG Fund ng 250 billion pesos upang maisakatuparan iyon pong mithiin po ng administrasyon na masolusyunan ang housing backlog po ng ating bansa na sa tulong po nito ay malaking tulong po ito para po ay makapagpatayo po tayo ng at least one million houses per year," Pag-IBIG Fund’s Department Manager for Public Media Affairs Jack Jacinto said in a public briefing Thursday.

He added that they are now coordinating with the Department of Human Settlements and Urban Development for their commitment to helping in building at least 708,000 housing units.

"Ibabalangkas po kasi nila iyon pong ceiling para po sa pagdetermina ng mga uri po ng housing units – socialized and economic housing units na siyang paglalaanan po ng ating pondo," Jacinto said.

Pag-IBIG Fund is encouraging local government units, accredited developers, employers, and other organized groups to take advantage of its Developmental Loan Program to avail of affordable housing.

The state-run Pag-IBIG fund said collections recently have reached P56 billion from payments of housing loans.

Membership has expanded to 15 million members who are actively paying their contributions amounting to P66.66 billion, their highest record so far, according to Jacinto.

"Ito po’y isang senyales na ang ekonomiya ng ating bansa ay bumabangon… bumabangon na mula nga po sa mga epekto ng pandemya," Jacinto noted.