Pag-IBIG Fund provides over P53 billion in cash loans 

Pag-IBIG Fund disbursed P53.76 billion in cash loans that benefitted a record 2,612,491 members last year, the shelter financing agency said in a report by Manila Times.

The amount of short-term loans released was 21 percent or P9.46 billion higher compared to 2021's P44.30 billion. The number of members assisted also increased by 24 percent from 2,090,851.

"We are happy to note that through our Short-Term Loan Program, we were able to aid more than 2.6 million Filipino workers," Pag-IBIG Fund Chairman Jose Rizalino Acuzar said in a statement.

Multipurpose and calamity loans are included in the program. Of the total amount of cash loans released last year, P49.85 billion comprised multipurpose loans that helped 2,313,143 members, while P3.91 billion were calamity loans that aided 299,348 members.

Pag-IBIG Fund Chief Executive Officer Marilene Acosta said the reliability and ease of access in availing of Pag-IBIG multipurpose and calamity loans were the main drivers behind last year's growth.