Angelico T. Salud, president of National Home Mortgage Finance Corp. (NHMFC), which administers CMP loans for informal housing, made the assurance during the recent consultations with the National Urban Poor Sectoral Council, part of a series of secure tenure campaigns being undertaken in collaboration with the United Nations Commission on Human Settlements.
"President Arroyo had earlier committed that she will fund CMP in 2003, on a need-basis from her unprogrammed funds of P15-billion, during the recent meeting of the National Anti-Poverty Commission, chaired by the President, and which oversees the implementation of all poverty alleviation projects of the government," Salud said.
For his part, Housing Sec. Michael T. Defensor has also committed that he will secure at least P500 million from President Arroyo’s unprogrammed funds to finance the loans being extended by NHMFC to community associations of informal settlers for their purchase of lands they are occupying or where they will be resettled, he cited.
He noted that prior to the administration of President Arroyo, subsidy funds for CMP were always included in the corresponding budgets, however, only portions and sometimes nothing was actually released to the program.
"What is important is the government’s firm commitment to fund the program and the political will that this administration has shown to make CMP an integral part of the comprehensive poverty alleviation campaign," Salud said.
This year, the Department of Budget and Management has released a total of P400 million for CMP, which signifies the continuing support and political will of the government to assist the homeless informal settlers, Salud added.