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PAG-IBIG FUND GRANTS P11.3B IN CASH LOANS IN 1Q 2017

Posted on April 12, 2017 by Sunria Realty in News & Updates

State-run Pag-IBIG Fund has released more than P11.3 Billion in cash loans for the first
quarter of the year, the agency’s top executive said on Wednesday (April 05).

“From January to March alone, we disbursed P11.3 Billion under our Multi-Purpose
Loan Program or MPL. These cash loans helped 520,000 Pag-IBIG members in their
everyday expenses. This is a remarkable 15% increase from our first quarter lending
last year, with MPL borrowers mostly coming from the low-income brackets. This is one
of Pag-IBIG’s programs that support President Rodrigo Roa Duterte’s campaign to uplift
the lives of our minimum- and low-wage earners,” said Pag-IBIG Fund Officer-in-Charge
Acmad Rizaldy P. Moti.

Under Pag-IBIG’s MPL program, members can borrow up to 80% of their total
contributions with the Fund. Members can use the loan proceeds to pay for tuition and
other school fees, medical expenses, purchase of furniture, minor home improvements,
and other needs.

Acting Deputy CEO for Member Services Operations Cluster Alexander Hilario G.
Aguilar said, “Pag-IBIG Fund also released an additional P759 Million in Calamity Loans
in early 2017. These Calamity Loans helped 53,401 members who were affected by the
typhoons in December 2016, particularly those in the Bicol and Southern Tagalog
regions.”

Members can avail of a Pag-IBIG Calamity Loan to help them finance repairs of their
damaged homes or help their families recover from the disaster. Members have 90
days after a declaration of State of Calamity in affected areas to file applications for the
loan.

Mr. Moti added that Pag-IBIG is studying various options to make the MPL and Calamity
Loan Programs more responsive to the needs of the members, citing President
Duterte’s directive to make government programs accessible to the people.

“This 2017, we will unveil our new MPL and Calamity Loan processing system that will
make the processing of loan applications faster and more efficient,” Mr. Moti said.

Readmore … www.pagibigfund.gov.ph/newsevents


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