The national government plans to pool resources from government financial institutions (GFIs), private sector partners, and local government units (LGUs) to build more housing projects for the Pambansang Pabahay program, according to the DHSUD.
Pambansang Pabahay program [In our groundbreaking done in Palayan City, Nueva Ecija, the GFIs like SSS, GSIS, DBP and Landbank of the Philippines joined us, and committed support for our Pambansang Pabahay program],” Tolentino said.
“So what will happen is this: those funds will serve as developmental loans that will kick start a housing construction and once that project is completed, it will be subject of bank takeouts. Then our GFIs will be repaid by the borrower/developer—that will allow our GFI to again relend the money for the next batch of housing programs,” Tolentino said, partly in Filipino.
The Marcos administration aims to build 6 million houses under the flagship housing program in the next six years.