PRESS RELEASE with photo

27 October 2011

PAG-IBIG FUND, CITY OF LIGAO TIE-UP FOR A SOCIALIZED HOUSING PROJECT

The Home Development Mutual Fund (HDMF or Pag-IBIG Fund) and the City
Government of Ligao recently signed a Memorandum of Understanding (MOU) covering
the implementation of the city’s Ligao Socialized Housing Project (LSHP).

“With the MOU, Pag-IBIG can offer the city government of Ligao two of our housing
programs – the Group Housing Loan Program (GHLP) for Local Government Units and
the End-User Housing Loan Program for qualified beneficiaries,” said Atty. Darlene
Marie B. Berberabe, Pag-IBIG Fund CEO.

Pag-IBIG, through its Group Housing Program, shall provide developmental financing of
as much as P40 million pesos for every medium-rise building and P20 million for every
phase of horizontal structures. Thereafter, the Fund shall provide the end-user financing
for members who shall avail of loans to purchase the housing units. Through the MOU,
the city government of Ligao is given access to loan for site development and house
construction on the land provided by the LGU as its counterpart in the LSHP.

During the signing, Ligao City Mayor Linda Gonzales recognized housing as one of the
basic human needs, signifying her wish to improve the quality of life of her constituents
by giving them the opportunity and access to have their own house and lot. “We deeply
appreciate the concern of Vice President Jejomar Binay to provide affordable housing to
homeless government employees. We support his housing programs to attain zero
homeless Filipinos,” she said.

Mayor Gonzales further remarked that the MOU “opens partnerships to all local
government employees who are homeless, and the timing is great. We already
purchased the required land and consulted a planner, Ms. Bebet Gozun, for the site
plan of this project. And then we learned that Pag-IBIG extends financial assistance for
LGU housing programs. We need to realize this project before my term as mayor
ends.”

Meanwhile, Atty. Berberabe mentioned that the Pag-IBIG team was in Legazpi City for
the Pabahay Caravan to present the different housing programs of Vice President Binay
to local officials in the Bicol Region. “But before we got to present our programs, Mayor
Gonzales already signified her intent to tie up with Pag-IBIG Fund,” she said.

The city government of Ligao is the first LGU in the Bicol Region to partner with the
Fund in implementing a socialized housing project for its constituents. Nationwide, it is
second to the LGU of Quezon City to enter into an MOU for a housing project under
Pag-IBIG’s GHLP for LGUs.

The Ligao Socialized Housing Project will occupy a 4.6-hectare lot in California Village,
Tuburan, Ligao City and is intended for the employees of the city and other government
employees working in the area. The project can generate 279 residential lots with lot
size of 80 square meters. The City’s Social Services Department initially identified
around 100 beneficiaries who are employees of the city government, the Department of
Education, and other government agencies in the area (end).