FINANCE Secretary Ralph Recto has been appointed to the Pag-IBIG Fund Board of Trustees.

Also named to the board is Trustee Maria Lourdes Doria-Velarde.

Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Rizalino Acuzar, who chairs the board, led in welcoming Recto and Doria-Velarde.

Finance Secretary Ralph Recto and Maria Lourdes Doria-Velarde. CONTRIBUTED PHOTOs

"Their expertise in their respective fields shall allow us to further our efforts in heeding the call of President Ferdinand Marcos Jr. to uplift the lives of our fellow Filipinos through savings and affordable home financing under the Pambansang Pabahay para sa Pilipino Program," Acuzar said.

"We look forward to working with Secretary Recto and Trustee Doria-Velarde in discussing and developing policies that shall enable the Pag-IBIG Fund to continue providing responsive programs for its members and stakeholders," he said.

Recto and Doria-Velarde joined Pag-IBIG Fund Chief Executive Officer Marilene Acosta, Department of Budget and Management Secretary Amenah Pangandaman, Department of Labor and Employment Secretary Bienvenido Laguesma, and Department of Trade and Industry Secretary Alfredo Pascual.

Other trustees were Private Employees' representatives Anthony Cesar Arellano and Gregorio Montenegro, Private Employers' representative Atty. Cornelio Aldon, and Government Employees' representative Ma. Lorelei Fajardo.

Acosta said the agency's inclusive approach to addressing the needs of the members and stakeholders has largely contributed to Pag-IBIG's strong fiscal position and outstanding performance.

"The name Pag-IBIG stands for the acronym 'Pagtutulungan para sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno.' Our name itself denotes that the accomplishments of our mandates of providing savings and affordable home loans to our members lies in our ability to involve and develop synergies among all our stakeholders whose voices are duly represented in our Board," Acosta said.

Some P126.04 billion in home loans, the highest amount released by Pag-IBIG in a year in its 43-year history, were released last year.

The agency said the amount was able to finance 96,488 housing units for its members.

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