PAG-IBIG Fund, also called the Home Development Mutual Fund, has released another P101.5 million worth of developmental loans, the fourth tranche, for President Ferdinand Marcos Jr.’s flagship Pambansang Pabahay para sa Pilipino (4PH) program in Bocaue, Bulacan.
“This release is yet another welcome support that will certainly fire up the implementation of Pambansang Pabahay as we bring the plans into actual development. It is an assurance that we can sustain the construction under the pro-poor 4PH,” Department of Human Settlements and Urban Development Secretary Jose Rizalino Acuzar said.
“Thanks to Pag-IBIG Fund for its continued support to 4PH, conceptualized to help uplift the poor through decent yet affordable housing,” he added.
The fund is intended to finance the ongoing development and construction of the Bocaue Bulacan Manor (BBM) housing project in Barangay Batia for Bocaue residents and government employees.
At least 1,888 families stand to benefit from the initiative in a 14-hectare site to have five multi-level condominium buildings, each with 14 floors.
Pag-IBIG Fund is a key shelter agency of DHSUD, with Acuzar sitting a chairman of its board of trustees.
A tripartite memorandum of agreement among DHSUD, Pag-IBIG Fund, and the local government unit has already been signed by the parties to implement the project.
“We have been monitoring the progress of this project from the beginning and we are glad to witness that it has now come into fruition. We will continue doing so until we have actually awarded the units to the rightful beneficiaries, particularly those who are most in need, at the lowest possible cost,” Acuzar said.
In April, Pag-IBIG also released developmental loans totaling P200 million for two separate Pambansang Pabahay projects in Luzon and the Visayas.