ZAMBOANGA
CITY,
Aug. 13 (PIA) - - To help improve
quality of life of its members and clients by promoting home ownership, the
Home Development Mutual Fund (HDMF) or Pag-IBIG-Zamboanga Branch recently inked
a Memorandum of Understanding with NJB
Development Corporation (NJBDC) for the generation of 195 housing units thru
the Group Housing Loan Program of Pag-IBIG.
Corazon Mamauag,
Chief, Marketing and Enforcement Division-Pag-IBIG said Pag-IBIG will be
financing the housing project while NJBDC will construct the said 195 housing
units.
“The Fund, as its partner through the Group Housing Loan Program, will provide
the financing requirements of its target beneficiaries for individual housing
loan” Mamauag was quoted as saying.
Mamaug
said Pag-IBIG hopes to continuously provide decent homes to its members and
clients who are mostly teachers, private and government employees.
The active lady marketing chief informed that
“NJBDC used to be an accredited developer of the
Fund who started delivery of mortgages in August 1993 when the Fund launched
the Expanded Housing Loan Program.”
“NJBDC was the first
recipient of the Fund’s Direct Developmental Loan Program, who availed of a P 5.9
MILLION PESOS loan, fully paid in 1995, with
teachers, businessmen, private and government employees as beneficiaries of the
one hundred seventy six (176) units,” Mamauag further informed.
She said NJBDC is
proposing to come up with 195 housing units; thus the signing of the Memorandum
of Understanding, which formalized its partnership with the Fund.
The MOA was
signed by and between Pag-IBIG
Fund, Zamboanga City Branch, represented by its Department Manager, Amorpatri
B. Bajarla and NJBDC, represented by its President Nonito J. Bernardo. (JPA/PIA-ZBST)