Livelihood Programs | Housewives gain access to housing loan through World Vision-facilitated MOA

Alcantara, Cebu – The Home Development Mutual Fund (HDMF) or popularly known as Pag-IBIG Fund, is a government agency that “answers the need for a national savings program and an affordable shelter financing for the Filipino worker.” The agency provides loans to employees or self-employed individuals when they decide to buy or build a house. They can also access loan for miscellaneous needs.

By contributing a minimum of P100 per month, the HDMF member will gain access to the loan scheme after a few years of saving. These contributions will also serve as a saving which they can withdraw during their retirement years.

However, membership is not accessible by everyone as requirements ask aspiring members to provide proof of income, tax papers and other documents.

For a simple housewife or farmer whose income is not fixed, it is difficult to apply for the fund.

However, it is already a different story among the housewives in rural Cebu. In the municipalities of Ronda, Alcantara and Moalboal, in the province of Cebu, a people’s organization named AIMLife, Inc., has signed an official partnership with Pag-IBIG. The members – majority of them are housewives or workers of low-income jobs such as farm laborers or livestock growers – can now give their contribution as savings and can access housing or miscellaneous loan.

The partnership, backed by a Memorandum of Agreement (MOA) document, between AIMLife, Inc. and Pag-IBIG was facilitated by World Vision.

“This is a significant step as we help the people in the community stand on their own even after World Vision concludes its development program in their area,” shares Mel Aguilar, a World Vision Programme Officer.