State-owned Philippine Guarantee Corp. (PhilGuarantee) and China Bank Savings Inc. (CBS) have signed a P20-billion housing retail guarantee facility, Philstar Biz reported.
The facility is designed to enhance housing finance accessibility by providing guarantees on retail housing loans, thereby reducing risk for lenders and making home loans more available to Filipino borrowers.
This partnership between a state guarantor and a savings bank is expected to support the government's push for affordable housing, leveraging CBS's retail network and PhilGuarantee's credit enhancement to reach more homebuyers.