The Department of Human Settlements and Urban Development (DHSUD) on Thursday announced the release of a P350-million developmental loan from Pag-IBIG Fund to a private company implementing a township project under the Pambansang Pabahay para sa Pilipino (4PH) Program, a flagship initiative of President Ferdinand Marcos Jr.
Housing czar Jose Rizalino Acuzar witnessed the turnover of the check for an approved developmental loan for PCHC-CSE Builders Joint Venture Co. Ltd. that is currently constructing phase 1 of the Palayan City Township Project in Nueva Ecija.
Pag-IBIG Fund chief executive officer Marilene Acosta personally handed over the check to Wilma Eisma, the company’s representative in simple turnover during DHSUD’s fifth anniversary celebration in Quezon City.
“This (fund release) will further strengthen the program,” Acuzar said.
“It will not only ensure the continuity of the township development in Palayan City, more importantly this will further boost the private sector’s confidence to the flagship housing program,” he added.
The shelter project to benefit 1,067 families is spearheaded by the local government unit headed by Mayor Viandrei Nicole Cuevas.
At least four buildings are now being built in Barangay Atate for actual unit delivery in July.