DBP lends P815M for Bulacan social housing project

The Development Bank of the Philippines (DBP) has approved a P815-million term loan to a housing developer for the construction of three residential buildings in Sta. Maria, Bulacan.

DBP President and Chief Executive Officer Michael de Jesus said the loan is part of the state bank’s Credit Facility for the Pambansang Pabahay para sa Pilipino (4PH) Program, also known as BAHAY-4PH. The program was created to mobilize financing for the Marcos administration’s flagship housing initiative.

The residential buildings are expected to benefit around 900 individuals, mostly from low- and middle-income households. De Jesus said the funding aligns with DBP’s mandate to support social services and community development while contributing to the government’s push to provide decent, affordable housing nationwide.

“DBP’s funding support is consistent with its thrust of promoting social services and community development, as well as to realize the vision of President Ferdinand Marcos Jr. of providing decent and affordable housing for our countrymen, especially those with limited financial resources,” he said in a statement.

The BAHAY-4PH program is open to local government units, housing developers, and contractors serving as project proponents under the 4PH framework. De Jesus said DBP intends to be more aggressive in tapping partners from both the public and private sectors to accelerate the development of sustainable and inclusive communities.

The bank is targeting to release P50 billion in loans under the program by 2030.