Presidential Communications Operations Office



  PIA Bldg, Visayas Ave, Diliman, Quezon City, Philippines
  Wednesday, 20 June 2018 News Before 1 Feb 2012. Click for Latest
Web PIA  
 
home
 
about
 
fotos
 
info
 
links
 
ncrr01carr02r03calmimr05r06r07r08r09r10r11r12r13
 << June 2018 >> 
S M T W T F S
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
Special News Editions:
English.Tagalog.Cebuano
Ilocano.Waray.Hiligaynon
Pangasinan.Other
PIA Specials:
NEW! Cabinet Officials
Jobs.Slides.Specials.Ads. Events.ASEAN.Multimedia
Visitors since 15 Feb 2011:
PIA News Archive:
English.Tagalog.Cebuano
Waray.Hiligaynon.Ilocano
Pangasinan.All
PIA Archive News Reader

PIA Press Release
2007/04/12

Pag-IBIG to pour P25 billion-fund for ‘07

by Prix D Banzon

Davao City (12 April) -- As the country’s leading source of shelter financing, Pag-IBIG Fund has infused a fresh fund estimated at P25 billion for CY 2007 inclusive of the P2 billion housing bond flotation that was implemented last month.

Pag-IBIG Fund president and CEO Atty. Romero FS Quimbo in a press statement said the fund will finance some 50,000 housing units estimated at an average of P500, 000 per unit.

He said the flotation of housing bonds is one way of generating funds for shelter financing.

“It is our task in government to provide mechanism for fund sourcing that can be trusted by the private sector. However, the private sector will not put in money to any of the government’s programs unless the channel of disbursement is trustworthy,” he said.

But with the Fund’s track record the market responded vibrantly to the latest housing bonds where issuance was 275 percent oversubscribed with P5.502 billion-worth of bids were tendered priced at five percent per annum which is lower than the prevailing market rate. The secondary market rate for the five-year benchmark T-bonds was recorded at 5.82 percent,” he said.

He said large private institutions like banks and pension funds/workers’ provident funds were among their major investors and the success of the bond auction is an affirmation of the private sector’s confidence on the Fund’s financial stability, liquidity and proven track record to pay its obligations.

The housing bonds issue will help ensure the steady flow of funds for housing and will face the issue of homelessness head on, he said. (PIA XI) [top]

|«  prev  next  »|
DAILY NEWS LIST:
»Troubleshooter is new Davao penal colony chief
»GSIS explains e-Card for pensioners
»DILG wants unified plan vs terror in Mindanao
»Community radio empowers Comval town
»Pag-IBIG to pour P25 billion-fund for ‘07
»Pag-IBIG among country’s biggest taxpayers
»AIM brings 4-day course to Davao
»1Lt Cris Paul Agustin: "Matapang sa lahat ng bagay"
»Davao Light-assisted lumad scholars get college degree
»Komentaryo: Tumataas, kumpiyansa ng int’l investors
|«  prev  next  »|

Philippine Official Gazette | Office of the President | Presidential Communications Operations Office
For comments and feedback, please email PIA Newsdesk
Copyright © 2005 Philippine Information Agency
PIA Building, Visayas Avenue, Diliman, Quezon City 1101 Philippines