₱12-B NHA credit line OK’D

The ₱12-billion credit line approved by the PAG-IBIG Fund for the National Housing Authority (NHA) will further bolster the momentum of the Pambansang Pabahay para sa Pilipino (4PH) program of President Ferdinand Marcos Jr., Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Rizalino Acuzar said on Friday, December 22.

Acuzar thanked the Home Development Mutual Fund (HDMF) or PAG-IBIG Fund for its commitment to support the 4PH.

"PAG-IBIG'S dedication is a huge boost to bringing the 'Pambansang Pabahay' to reality. It continuously opens more doors for Filipino people to own a home that is decent yet affordable in sustainable communities," said Acuzar, also the PAG-IBIG Fund Board of Trustees chairperson.

PAG-IBIG Fund has approved back-to-back funding for two key shelter agencies to support housing projects under the 4PH.

PAG-IBIG Fund said last Wednesday it has approved a P12billion revolving credit line for NHA intended to finance the development of 9,110 housing units. An initial 6,967 homes will be built in Quezon City, Valenzuela City, Zamboanga City, and San Juan Cityas part of the 4PH program.

Acuzar said the credit line is equipped with safeguards for the proper and efficient use of funds, with the NHA providing the corresponding loan collaterals.

PAG-IBIG had earlier approved a ₱929-million revolving credit line for the Social Housing Finance Corp. (SHFC) to fund the construction of 2,264 housing units in Pampanga, Manila, Misamis Oriental, and Davao City. (Martin Sxadongdong)