The Department of Human Settlements and Urban Development on Thursday welcomed the release of P350 million developmental loan by Pag-IBIG Fund to a private company implementing a township project under President Ferdinand R. Marcos Jr.'s Pambansang Pabahay para sa Pilipino (4PH) program.

DHSUD Secretary Jose Rizalino Acuzar said he was elated as he witnessed on Wednesday the turnover of the check for an approved developmental loan for PCHC-CSE Builders Joint Venture Company Ltd., which is currently constructing the Phase 1 of the Palayan City Township Project in Nueva Ecija.

Pag-IBIG Fund chief executive officer Marilene Acosta personally handed over the check to Atty. Wilma Eisma, who represented the private company. The simple turnover happened during DHSUD’s 5th anniversary celebration.

"Ito ay lalong magpapatatag at magpapabilis sa implementasyon natin sa 'Pambansang Pabahay' ng ating mahal na Pangulong Marcos Jr.," Acuzar said.

"Hindi lamang nito masisigurado ang tuluy-tuloy na township development diyan sa Palayan City, more importantly this will further boost the private sector's confidence to the flagship housing program," he added.

The Palayan City Township Housing Project is spearheaded by the local government unit headed by Mayor Viandrei Nicole Cuevas. The mayor expressed her gratitude to Acuzar and Acosta for supporting the LGU project designed to initially benefit 1,076 families.

Four buildings are currently being constructed in the township development located at Barangay Atate. The LGU targets to deliver actual units by July this year.

The project is among the 36 Pambansang Pabahay projects that are now in various stages of development and construction.

Also in attendance during the turnover of the check were DHSUD Undersecretaries Emmanuel Pineda and Avelino Tolentino III, Pag-IBIG Fund Deputy CEOs Alex Aguilar and Benjie Felix Jr., Atty. Marcial Pimentel Jr., and other officials.