THE state-run Home Development Mutual Fund (Pag-IBIG) reported that they had posted a record-high P28.09 billion, allotted for the housing loans during the first quarter of the year.

The said figure represents a P520.81 million increase from the previous P27.57 billion loans that were released in the same quarter in 2023.

This covers nearly 20,000 members with the Marcos government looking to address the country’s housing backlog.

According to Pag-IBIG, they also released P126.04 billion in shelter financing.

This is up 7% from P117.85 billion in 2023.

“We thank our stakeholders,  namely the business community, for the timely remittance of their employees’ monthly savings and loan payments, our partner developers in building and delivering quality housing projects and accounts, our members who continue to save with us and choose our loan programs, and our borrowers for their prompt payment on their loan obligations,” Pag-IBIG Chief Executive Officer Marilene Acosta said in an emailed statement.