Gov’t seeking finance for housing development

The People’s Progressive Party (PPP) government is seeking a bond to push its planned housing programme, according to Vice President, Bharrat Jagdeo.

At a press conference held at the Arthur Chung Conference Center on Friday, Jagdeo said: “We have an Expression of Interest now for people –finance companies –to structure a bond so that will come in shortly and we will make a decision on that but that could bring $40-$50B into housing development.”

He said the money will be used for “an impressive low-income programme building houses.”

The PPP, in its 2020 elections campaign, promised to provide 50,000 house lots to Guyanese and is aiming to allocate 10,000 each year for its current term in office.

At Friday’s press conference, Jagdeo referred to persons who were squatting on lands owned by the Guyana Sugar Corporation (GuySuCo) at Success on the East Coast of Demerara (ECD).

“We made it clear that all the people at Success and other areas, who have legitimate demand, they’re going to get help including help to get a piece of land and house, but they’ll have to be patient and go through the process,” he said.

Jagdeo was at the time highlighting a number of plans and projects his Government has embarked on during its first 100 days in office.