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Saturday, April 13, 2024

Make housing loans more accessible, Marcos tells Pag-IBIG

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President Ferdinand Marcos asked the Pag-IBIG Fund on Tuesday to make home mortgage financing accessible to address the housing backlog and inspire the public to own a home.

“And so, with the same spirit, I urge the Pag-IBIG Fund to make its home mortgage financing even more accessible and to balance this with sustainability. This is to inspire Filipinos today, and the generations to come, to work hard to reach their goal of a house that they can call their own,” President Marcos said in his speech during the Pag-IBIG Fund Chairman’s Report for the Year 2023.

“With millions of our countrymen denied the right to decent shelter, the stakes could not be higher. So, our task is clear: To build the most number of housing units by any administration,” he added.

The President highlighted the need to translate these gains into tangible results. He pointed to the record-high P126.04 billion in housing loans issued in 2023, which helped over 96,000 members acquire new or improved homes.

Beyond housing loans, Pag-IBIG also released P59.31 billion in short-term loans, benefiting over 2.65 million members. The agency’s financial performance saw an annual net income of P43.79 billion, coupled with the highest total assets (P925.61 billion) and member dividends (P48.76 billion) to date.

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Despite these impressive figures, the President stressed the importance of bridging the gap between financial performance and tangible housing solutions. 

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