Philguarantee signs P20-B Housing Retail Guarantee Facility with China Bank Savings

THE Philippine Guarantee Corp. (Philguarantee) has signed a P20-Billion Housing Retail Guarantee Facility with China Bank Savings, Inc. to strengthen housing finance accessibility in the country.

“Through this facility, Philguarantee reinforces its commitment to de-risking housing finance and expanding the capacity of financial institutions to serve more Filipinos. By sharing risk, we unlock opportunities to encourage more lending, reaching more communities, and supporting borrowers who may otherwise remain underserved,” Philguarantee President and Chief Executive Officer Alberto E. Pascual said in a press release.

The two firms signed the facility on March 26 as both parties aim to boost economic growth by improving access to house financing.

“This P20-billion housing guarantee is more than a financial milestone, it is a promise to support economic growth, strengthen communities, and make housing more accessible and sustainable for Filipinos across the country. At China Bank Savings, we believe that partnership like this is key to building a more inclusive future,” China Bank Savings Vice-President II and Consumer Lending Group Head Kristine Michele C. Broadhurst said. — Aaron Michael C. Sy