Republic Act 9679 or the Pag-ibig Fund Law of 2009, which was signed by President Gloria Macapagal-Arroyo, repealed the Presidential Decree 1752 and further strengthened the Home Development Mutual Fund to perform its housing and provident finance mandates.
From P3.82 billion in 2001, Pag-IBIG released a total of P37.3 billion in end user housing loans last year. As of May this year, housing loan disbursement grew by 34 percent, indicating a strong demand despite the financial crunch. (PIA)
