Development Bank of the Philippines disclosed its plan to release P50 billion in loans until the end of its Building Affordable Homes Accessible to Every Filipino program in 2030, a top executive said Thursday.
DBP president and chief executive Michael de Jesus said the BAHAY program supports housing projects such as mass and mid-cost housing projects, horizontal and vertical developments and various shelter types including houses and lots, duplexes, row houses and condominiums.
He said this is in support of the government’s efforts to address the widening housing backlog in the country.
“We are confident that through this lending program, DBP will be able to further contribute towards the goal of building a sustainable and livable environment for the Filipino people,” de Jesus said.
The DBP recently granted a P900-million funding support to Johndorf Ventures Corp., which is expected to bolster the firm’s drive to build 39,000 housing units by 2025.