MANILA, Philippines - The Department of Budget and Management approved the release of P3.38 billion to the National Housing Authority (NHA) for the continued implementation of its housing development and settlement program.
The money will be used to cover the construction and completion of off-city housing projects which include 3,086 housing lots as well as address the perennial flooding in several problematic areas in Metro Manila by relocating informal settler families to safer ground.
“The Aquino administration still prioritizes the implementation of housing projects and the relocation of informal settler families from pre-determined danger areas , especially because we continue to experience the effects of the rainy season and the risks associated with storms and weather disturbances,â€DBM Secretary Florencio “Butch†Abad said.
“At the end of the day, the primary goal is to prevent the potential loss of property and lives caused by flooding, primarily through the provision of safe housing alternatives to our informal settlers,†he added.
As of August 2013, the NHA has already spent P3.82 million for the development of 12,941 off-city lots, of which 12,291 housing units have been constructed. This benefited about 6,511 families.
The money was likewise used to beef up its land holdings.
According to the DBM, a total of 24,851 new housing units will be built upon completion of the housing program in 2014.
The P3.38 billion cash funding, sourced from 2011 savings, was transferred to the NHA from the Bureau of Treasury (BTr), where the cash component of the P10 billion allocation for the housing program is parked.