One million households, mostly in the low-income bracket, can be assured of homes in the next six years.

This was revealed by Vice President Noli de Castro, concurrent chairman of the Housing and Urban Development Coordinating Council (Hudcc).

Under the Arroyo administration’s Medium Term Philippine Development Plan, the government will provide socialized and low-cost housing to 1,145,668 families. These will cost some P217.044 billion, the national government announced in its website.

According to De Castro, the Home Mutual Development Fund, more popular known as the Pag-ibig Fund, will be the main source of the funding, with its projected loan releases for the period accounting for an estimated 40 percent of the targeted number of housing units.

Pag-ibig has committed funds for the shelter program from 2005 to 2010 amounting to P132.14 billion in end-user and institutional loans. The money will go toward the construction or purchase of 458,250 housing units.

To strengthen the shelter sector, De Castro cited reforms to be instituted to include expanding private sector participation in socialized and low-cost housing, enhancing the capacity of local government units to deliver housing services, and strengthen the institutional capacity of the shelter agencies. CTL