Gov’t to loan from China to build 1M houses

DAVAO CITY (MindaNews/4 Oct) — The government is availing a P200-billion ($4 billion) loan from China to build low-cost housing units around the country, said Parañaque Rep. Eduardo Zialcita Wednesday.

Zialcita, who chairs the committee on housing and urban development at the House of Representatives, said a million housing units costing P200,000 each will be built to help cut the country’s housing backlog of four million units.

The Housing and Urban Development Coordinating Council (HUDCC), he said, will manage the program and is expected to formalize the soft loan package with Chinese counterparts in December.

But Zialcita could not say how many houses will be built in Mindanao out of the loan package. He said the HUDCC will take charge of the allocations.

In July, House Speaker Jose de Venecia announced an offer from two Chinese provinces to build pre-fabricated houses in the Philippines after he toured China for that purpose.Read story here.

About mindanaw

A Journalist from Mindanao

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