DAVAO CITY- The Pag-IBIG Fund will make available  P1- trillion pesos for loans to its members from 2023 to 2028.

“Our commitment for housing loans for the next six years is almost one trillion,” says Pag-IBIG Fund CEO Marilene Acosta said.

She said lending developmental loans will actually empower housing producers, developers, the contractors to come up with affordable units which will be sold to the Pag-IBIG members.

Acosta said there is a need for affordable housing units. “There is a low supply of affordable housing units which is the objective of our 4PH program,” the Pag-IBIG CEO said,

She said out of the one trillion pesos, the fund will be committing P250 billion to President Ferdinand Marcos Jr’s Pambansang Pabahay sa Pilipino Program or 4PH

The President’s housing program aims to create 6 million affordable housing units for six years.

“Sa unang tingin P250 billion parang manlalaki ang mata natin (At first look the 250 billion will make our eyes go big)… but this is our commitment for the next six years and you divide it by six that will be around P42 billion a year,” Acosta said during her interview with members of media during the Pag-IBIG Chairman’s Report held April 13 at Dusit Thani Hotel in Davao City.

“For 4PH we are encouraging condominium units so that we do not run out of land,” Acosta said.

She said the P250-billion will generate more than P300-billion end-user financing.

“Diba yung P250 billion yung developer ang umutang pagka-naging bahay na yan, naging end-user financing it will result in over P300-billion worth of end-user loans,” Acosta said. (PIA/RG Alama)