Quick Turnaround: CAGFI Retains BOI Accreditation


What do you do when despite your best efforts, things don’t go as planned?

This is exactly where CFC ANCOP Global Foundation, Inc. (CAGFI) was at when we lost our Board of Investments (BOI) accreditation for failing to deliver the 40 houses in Maribojoc, bohol on schedule. The LGU encountered difficulties in providing the lots for the proposed houses donated by Empire East.

Quick turnaround

With the BOI’s approval, CAGFI’s team worked quickly to find a site in Concepcion, Iloilo. The houses were completed in 4 months’ time, following standards for housing outlined by the Economic and Socialized Housing BP 220.

Efren Tompong, CAGFI Community Development Head, affirmed the importance of the accreditation, saying, “The BOI Accreditation is solid proof of CAGFI’s ability and competence in delivering shelter related programs in partnership with real estate companies.” BOI accreditation allows CAGFI to participate in socialized housing projects in partnership with real estate companies. By law, such companies are mandated to allocate 20% of their output for low-cost housing.

Win-win for the poor & business

A boon to both business and the community, these donations for housing projects from companies like DMCI and SMDC, currently partnering with CAGFI, both provide for the poor and qualify businesses for tax holiday perks.

A similar project is the SMDC-funded Salcedoville Housing Project in Salcedoville, Eastern Samar. Phase 1 comprises 154 houses, community facilities (power and water), drainage, common pathways, and road networks. And thanks to the renewed BOI accreditation, the Salcedoville project will go on to build 146 more housing units as Phase 2 of the project.

SMDC expressed full trust and confidence in CAGFI’s ability to spearhead major housing projects like Salcedoville. They even called CAGFI their “preferred partner” for their socialized housing projects. Music to our ears. (Brienz Athena Suaberon & Arvee Gonzales)

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