ADFIAP honors Pag-IBIG’s Berberabe

MANILA, Philippines - Home Development Mutual Fund (Pag-IBIG) top executive Darlene Marie B. Berberabe was named CEO of the Year by the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP). 

Berberabe is the first female chief executive to receive the award and only the second Filipino distinguished by ADFIAP since it started to give such award in 2004.  

She was credited for her exceptional leadership in making Pag-IBIG Fund into an excellent organization that’s true to its mandate of delivering to its members and stakeholders a saving culture and access to finance for housing and other basic needs. 

The award was given during the Welcome Reception and Awards Night last May 22 in Ulaanbaatar, Mongolia. 

“This is a really proud moment for me. Thank you ADFIAP for this honor. Such award is important for public servants like us in Pag-IBIG Fund because our members entrust their money for us to administer. It is but right for me, the president of the peoples’ fund to be worthy of their trust. I am very proud to stand before all of you here as the president of Pag-IBIG Fund and as a Filipino,” she said. 

With the Philippines facing an immense housing backlog, Berberabe sought to bring affordable home financing within reach of all Pag-IBIG Fund members. Under her stewardship, the agency doubled the home loan amount from three million to six million, dropped interest rates of home loan and calamity loans to record lows of 4.5 percent and 5.95 percent, respectively. 

She also initiated a home matching program with linkages to government agencies, workers associations, local government units, and private companies. 

Pag-IBIG Fund’s housing programs were brought closer to its members without increasing the members’ monthly contribution of 100. 

Its remarkable transformation under her helm spans across the entire Philippines through reformed loan programs, expanded membership campaigns, benefits, and partnership thereby earning for the institution the recognition as the country’s premier national savings program that answers the call for affordable home financing for the ordinary Filipino worker and a prominent agency in nation building. 

ADFIAP is composed of development banks and other financial institutions engaged in the financing of development in the Asia-Pacific region. Its mission is to advance sustainable development through its members. Founded in 1976, ADFIAP has currently 131 member-institutions in 45 countries. The Asian Development Bank (ADB) is a special member. ADFIAP is also a founding member of the World Federation of Development Financing Institutions composed of regional associations in Africa, Asia-Pacific, Latin America and the Middle East. ADFIAP is an NGO in consultative status with the United Nations’ Economic and Social Council (UNESCAP).