President Ferdinand R. Marcos Jr. has approved the proposed sovereign guarantee for the Pambansang Pabahay Para sa Pilipino Program (4PH), Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Rizalino Acuzar said Wednesday (August 7).

Acuzar said during a Palace press conference that Marcos gave his approval during a sectoral meeting with DHSUD officials at the Malacañang Palace in Manila on Tuesday.

Acuzar said the approved government guarantees would be used for the development loans of the National Housing Authority (NHA) and the Social Housing Financing Corporation (SHFC) to accelerate the construction of housing projects under the 4PH and address the backlog in the construction of housing units.

“It is a guarantee that there is a construction that can lead to a card that can be used to make private money, and to make money with money. Since po utangin naman po ito, kaya po ang naisapan name, ang uutang na lang po ay ang gobyerno na rin, (This guarantee will be used to speed up the construction, because in the past we used private money and the funds came in very slowly. Because it is loaned, the only borrower will be the government, the National Housing Authority and the SHFC National Housing Authority at SHFC,” he said.