Out and about
Republic Cement, MFIs give poor Filipinos a chance to have decent homes
Republic Cement Services, Inc. (“Republic Cement”) has partnered with several micro finance institutions (MFIs), to help Filipinos who live in poverty improve their lives thru well-constructed and affordable houses.
Through the partnership, MFIs such as TSPI, ASKI, and NWTF provide financial assistance—through affordable loans— of which its members can use to upgrade or extend their existing homes or finance the construction a new core unit. While, Republic Cement shares its construction expertise by providing technical advice, to assist stakeholders in building typhoon and disaster-resilient homes complete with functional sanitary facilities. Republic Cement also trains the assigned field officers and foremen and guides project technical coordinators to make sure that houses are built to industry standards.
Carmen Gimao, a widowed street sweeper from Bicutan in Taguig, realized the practicality of applying for a housing loan which also provides quality construction advice; rather than just receiving monetary loans. “Before I relied solely on monetary loans which I though provided for affordable and reasonable weekly rates to make ends meet,” said Gimao. However, she realized that borrowing money from Republic Cement and TSPI is “… better than only borrowing money, because with Republic Cement and TSPI, you’ll see where the money goes. They not only provide for financing, but also quality building materials and give you technical advice in planning the construction of your home.”
The partnerships forged by Republic Cement with its MFI partners helped address the country’s housing situation by offering financing, quality building materials and technical advice to build innovative, safe, affordable, and durable homes. These initiatives are welcome solutions to the country’s socialized housing problem which will ultimately uplift the lives of Filipinos.