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.
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