Pag-IBIG Fund released a record P117.85 billion in home loans to finance the construction of over 100,000 housing units of members in 2022, top executives said Wednesday.
It said the amount represented an increase of 21 percent or P20.57 billion from P97.28 billion it released in 2021.
Pag-IBIG financed the acquisition and construction of 105,212 homes for its members, up by 11 percent from the 94,533 homes financed in 2021.
“We are happy to report that Pag-IBIG Fund has once again set a new record-high in home loan releases in 2022. This is very good news because as the amount of home loans we release increases, so does the number of Filipinos who now have homes of their own,” said Secretary Jose Rizalino Acuzar, who heads the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund board of trustees.
“Pag-IBIG Fund’s performance is a testament to our united and unwavering efforts to resolve the country’s housing backlog, in line with the objective of President Ferdinand Marcos Jr. under the Pambansang Pabahay Para sa Pilipino Program,” said Acuzar.
Pag-IBIG Fund chief executive Marilene Acosta said the number of housing units financed last year was a new record and marked the first time the agency financed more than 100,000 housing units in a year.
She said that of the total housing units financed by the agency, 18,657 or 18 percent were socialized housing units which are now owned by members from the minimum-wage and low-income sectors.
“We at Pag-IBIG Fund have always strived to provide our members—the Filipino workers, the means to have their own homes through affordable shelter financing. That is why we take great pride in achieving a record-high number of housing units financed in 2022 because it means that we have empowered even more Filipinos in gaining their own homes,” Acosta said.
“As we embark on yet another year, our members can continue to rely on Pag-IBIG Fund to provide them the most affordable home loan in the market, so that they too can achieve their dream of homeownership. That is the Lingkod Pag-IBIG pledge,” she said.