Social Housing Finance Corporation (SHFC) and the provincial government of Batangas inked a memorandum of understanding (MoU) for the implementation of housing projects for more than 250 families from three municipalities.
SHFC President Arnolfo Ricardo Cabling and Gov. Hermilando Mandanas signed the agreement in a virtual ceremony held on August 10
Under the deal, SHFC will finance the lot acquisition, site development and house construction of Kapitbahay Homeowners’ Association and Tambakan Homeowners’ Association through its flagship initiative, the Community Mortgage Program (CMP), which marked its 32nd anniversary for the entire month of August. A total of 255 families from 11 barangay (villages) from the towns of Nasugbu, Tuy and Balete will benefit from these projects. These are just the initial number of families in Batangas, who stand to benefit from the CMP.
Aside from the initial CMP housing projects, SHFC and the provincial government are also looking to partner to provide permanent shelter for families affected by the eruption of Taal Volcano in January.
SHFC has so far forged similar agreements with 93 local government units, including 18 new partners added this year. In the light of the pandemic, the agency continues with the provision of adequate housing, which has become even more crucial now given that viruses spread fast in congested informal settlements. To date, it has provided security of tenure to more than 400,000 families through about P24 billion in loan assistance under the CMP.