MANILA — The Home Development Mutual Fund, commonly known as Pag-IBIG Fund, has disbursed an additional PHP 101.5 million in loans to support the expansion of President Ferdinand R. Marcos Jr.'s 'Pambansang Pabahay para sa Pilipino' (4PH) Program. This latest funding will further the development of the Bocaue Bulacan Manor (BBM) housing project, which is designed to provide affordable housing solutions for residents and government employees in Barangay Batia, Bocaue.
According to Philippines News Agency, recent announcement from the Department of Human Settlements and Urban Development (DHSUD), this fourth installment of developmental loans brings significant progress to the BBM project. Positioned on a 14-hectare site, the project includes plans for five multi-level condominium buildings, each consisting of 14 floors, and aims to house 1,888 families. The initiative is part of a broader effort to address the critical need for decent and affordable housing in the region.
DHSUD Secretary Jose Rizalino Acuzar expressed gratitude for the continued financial support from Pag-IBIG, emphasizing that it will accelerate the implementation of the 'Pambansang Pabahay' program. "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," Acuzar stated.
The BBM project is part of a comprehensive development plan aimed at transforming the area into a sustainable township with access to essential amenities and employment opportunities. A tripartite memorandum of agreement has already been signed by DHSUD, Pag-IBIG Fund, and the local government unit to outline the implementation details and responsibilities of each party.
Secretary Acuzar also highlighted the broader impact of the program, noting that ongoing monitoring ensures that the benefits reach the intended beneficiaries, particularly the economically disadvantaged, at the lowest possible cost. He reiterated the president's directive to prioritize the poor as part of a broader vision for a stable and progressive New Philippines.
In addition to the latest funding for Bocaue Bulacan Manor, Pag-IBIG Fund has recently provided PHP 200 million in developmental loans to other 'Pambansang Pabahay' projects in Luzon and Visayas in April, and a PHP 350 million loan to the Palayan City Township Project in February. Last year, the Fund approved nearly PHP 13 billion in revolving credit lines for the National Housing Authority and the Social Housing Finance Corporation to support their respective 4PH projects.
Pag-IBIG Fund Chief Executive Officer Marilene Acosta reassured the public of the Fund's stability and ongoing commitment to the 4PH program, emphasizing that more projects under 'Pambansang Pabahay' would mean an increased supply of quality homes available at prices below the market rate.