PAG-IBIG Fund extended half a billion pesos or P500.43 million in cash loans to 23,153 borrowing overseas Filipino worker-members (OFW-members) from January to October this year, posting a 228-percent increase from the same period in 2017’s P152.69 million in cash loans to 6,731 OFW-borrowers.
For OFW-members’ housing needs, Pag-IBIG Fund released P12.95 billion to 12,152 OFW families from January to September 2018.
Speaking on behalf of Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy Moti, Deputy CEO for Member Services Cluster Alexander Hilario Aguilar reported the agency’s accomplishments at its 2018 OFW Day and Fund Coordinators General Assembly.
“Our OFW-members have a steady partner in Pag-IBIG Fund. We support President Rodrigo Roa Duterte’s social development program through our cash and housing loans. Pag-IBIG Fund also ensures that our housing programs are aligned with the BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities) program led by Secretary Eduardo del Rosario, the Chairperson of the Pag-IBIG Fund Board of Trustees and Housing and Urban Development Coordinating Council [HUDCC],” DCEO Aguilar said in a statement.
As of October 2018, Pag-IBIG Fund’s active OFW-members rose to 1,139,785 or 40 percent higher compared to only 816,128 last October 2017.
“Membership savings collections further went up to P2.26 billion in the first 10 months of the year, higher by 26 percent or P472 million more than the P1.78 billion collected for the same period in 2017. OFW-members saved P1.72 billion under Pag-IBIG 1 savings program, and P541 million under the voluntary Modified Pag-IBIG 2 (MP2) savings program,” Aguilar said.
Also at the event, Pag-IBIG Fund recognized its partners from government, non-government organizations and other private entities who supported the Fund’s programs for its OFW-members.
Pag-IBIG Fund has 23 overseas posts worldwide to serve OFW-members: nine in the Middle East, four in Europe, eight in Asia-Pacific, and two in North America. In the Philippines, the OFW Center is located at the Pag-IBIG Fund International Operations Group office, 6th floor, Justine Building, 317 Sen. Gil Puyat Avenue, Makati City.