Tue, Dec 02, 2008 - Page 4 News List

Community Compass: Pag-IBIG reaches out to overseas Filipino workers

STAFF WRITER, WITH CNA

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Philippine workers who dream of owning a decent and affordable house can realize their dream with the help of Pag-IBIG, the fund’s deputy CEO said in Taipei on Sunday.

“The government is looking at helping overseas Filipino workers [OFWs] in Taiwan to buy houses in the Philippines,” Jaime Fabiana said.

A Housing Fair was held on Sunday at the Dominican School in Taipei, the first of its kind organized outside the Philippines by the Manila Economic and Cultural Office (MECO) and Pag-IBIG Fund.

The Housing Fair is a coordinated effort by government agencies such as Pag-IBIG Fund, the Landbank of the Philippines (LBP), the Philippine Health Insurance Corp and the Philippine Labor and Employment Office, MECO said. Pag-IBIG is one of the Philippine government’s leading housing agencies.

Fabiana said that many OFWs dream of building a new house for their loved ones.

“We hope to help make their dream come true by hosting this Housing Fair in Taipei,” Fabiana said. “We provide housing loans at rates as low as 6 percent.”

“I think the interest rates for the housing loans are quite low,” said Silva Moonyen Ortiz, a Filipina who has been working in Taiwan for three years.

MECO estimates there are about 85,000 Filipinos in Taiwan working hard to provide for their families in the Philippines.

Pag-ibig Fund is Manila’s Home Development Mutual Fund, created in 1978 to offer savings schemes and housing loan packages. It includes an overseas program, which offers OFWs, immigrants and naturalized citizens an opportunity to save for the future and to access a housing loan of as much as 2 million Philippine pesos (US$41,200).

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