Philippine Coast Guard (PCG) Commandant, CG Admiral Artemio M Abu, signed a memorandum of agreement ( MOA ) on providing more and better houses for Coast Guard personnel with NEDSteel Construction and Development Corporation (NEDSteel) Chairman and CEO, Mr. Reynaldo Antonio Lorenzana, at the National Headquarters, Port Area, Manila, yesterday, 16 January 2023.

Under the said MOA, the PCG shall conduct an internal survey to identify potential locations for housing sites and determine the number of potential housing applicants for each location.

For its part, the NEDSteel shall be responsible for purchasing the approved housing sites. It shall inform the PCG if there are complications with the purchase and if alternative housing sites need to be considered.

Moreover, the NEDSteel shall coordinate with government financing institutions, such as the Home Development Mutual Fund (Pag-IBIG), for the proper and timely processing of loan applications of the PCG's qualified personnel.

If necessary, the PCG shall also make itself available for the servicing of such loans by allowing, with the consent of the qualified personnel, deductions from their salaries to pay off their interest payments and amortizations to be remitted to the pertinent financial institution.

The said MOA remains effective for five years from the date of the signing.