Nat'l housing program to receive funds from GSIS, SSS, banks —DHSUD

More government financial institutions (GFIs) will provide funds for the national housing program, the Department of Human Settlements and Urban Development (DHSUD) said on Wednesday.

At a televised public briefing, DHSUD Undersecretary Avelino Tolentino III said these GFIs include the Government Service Insurance System (GSIS),  Social Security System (SSS), Land Bank of the Philippines, and Development Bank of the Philippines (DBP).

“Patuloy po ang pag-uusap namin with other GFIs namely the GSIS, SSS, Landbank, at saka DBP para sila din po ay mag-allocate o mag-earmark ng kanilang investible funds pagsuporta sa ating Pambansang Pabahay Para sa Pilipino Program,” he said.

(We continue to talk with other GFIs namely the GSIS, SSS, Landbank, and DBP for them to also allocate or earmark their investible funds in support of our national housing program.)

Recently, the Home Development Mutual Fund or Pag-IBIG Fund said it has allocated P250 billion to finance the government’s national housing program.

According to Tolentino, the DHSUD is expecting that other GFIs will also announce developmental loans in support of the housing program within the next few weeks.

So far, a total of 28 local government units have signed a memorandum of understanding for the housing program.

The Pambansang Pabahay para sa Pilipino Program aims to provide 6 million houses in six years under the administration of President Ferdinand "Bongbong" Marcos Jr.

Under the program, not only the beneficiaries but also the national government and the local government units will also pay for the housing units. —KBK, GMA Integrated News