Pag-IBIG releases P200 million loans for ‘Pambansang Pabahay’ 

The Home Development Mutual Fund or Pag-IBIG Fund has released P200 million in developmental loans for housing projects under President Ferdinand R. Marcos Jr.’s flagship Pambansang Pabahay para sa Pilipino (4PH) Program.

According to the 4PH-Project Management Office of the Department of Human Settlements and Urban Development (DHSUD), the Pag-IBIG Fund, led by CEO Marilene Acosta, issued the loans to two private contractors currently implementing 4PH projects in separate sites in Luzon and Visayas.

The contractors received P40 million and P160 million to finance their 4PH housing projects last April 5 and 8, respectively. This will be the second time that Pag-IBIG Fund released funding for “Pambansang Pabahay” projects. During DHSUD’s 5th anniversary last February 14, Pag-IBIG Fund handed over P350 million for the Palayan City Township Project, also under the 4PH Program.

Apart from these, Pag-IBIG Fund previously approved almost P13 billion revolving credit lines for the National Housing Authority and the Social Housing Finance Corporation to support their respective 4PH projects.  

DHSUD Secretary Jose Rizalino Acuzar welcomed the loan release as another huge boost to the ongoing nationwide implementation of the flagship program.

“More than the actual value of the loan, it’s the confidence that these releases build on our private partners, especially private contractors/developers, that is huge for the success of our Pambansang Pabahay,” Secretary Acuzar said.

“Malaking bagay din ito para mahikayat natin pati mga private banks na sumali na sa 4PH,” he added.

The housing czar stressed the need for private sector to actively participate in the flagship program to help address the country’s growing housing backlog.

Meanwhile, Pag-IBIG CEO Acosta assured that 4PH proponents can rely on the agency to finance their housing projects under the most secure and affordable terms.

“Pag-IBIG Fund remains capable and ready to provide funding for incoming 4PH proponents through our Direct Developmental Loan Program for the 4PH. More Pambansang Pabahay projects would mean more supply of quality homes at lower-than-market prices. Though Pag-IBIG Fund stands as the single largest source of home financing in the country, we understand that we cannot solve the country’s housing backlog on our own and that addressing it requires the participation of all stakeholders in the housing industry. We are happy to be able to work with developers, contractors and fellow government agencies towards our shared commitment to empower Filipino workers in securing decent and affordable homes for their families,” CEO Acosta added.

So far, more than 30 “Pambansang Pabahay” projects are now ongoing throughout the country and currently in various stages of development and construction.

The 4PH-PMO, which is spearheading the nationwide rollout of the flagship program, is headed by Undersecretary Garry De Guzman.