NBS, Republic Bank on board as home construction assistance programme launched

The Ministry of Housing and Water on Monday opened applications for its home construction assistance programme recently announced by President Irfaan Ali.

Minister within the Ministry of Housing and Water Susan Rodrigues and Chief Executive Officer of the Central Housing and Planning Authority Sherwyn Greaves were present at the launching.

The programme seeks to accelerate the government’s housing drive, while also addressing challenges faced by Guyanese families who have acquired lands but are unable to build their homes, due to inaccessibility of financing and issues with contractors.

“We promised 50,000 house lots, which we have been ensuring that we make available to the citizens but we have been adamant that our primary focus is homeownership [and] ensuring that Guyanese move from being renters to becoming homeowners,” Minister Rodrigues stated.

The Minister added, “what we found is that in some cases there is a disconnect and there is more help that is needed especially for our low-income earners”.

Through the scheme, CHPA and the banking institutions will now be under one roof at CHPA’s Head Office. So far, the New Building Society and Republic Bank (Guyana) Limited are on board. Applicants will be assisted with the process of bank financing to meet the cost of construction. CHPA will also be constructing the homes for the applicants, who can choose from three pre-designed units ($7 million, $9 million and $12 million).

Chief Executive Officer of the CHPA, Mr. Sherwyn Greaves stated that the programme will also stir economic activity.

“Our housing drive is synonymous with the creation of employment. This will not only help the landowners, it will at the same time provide employment for our citizens across the country,” CEO Greaves said.

He further stated that the agency will soon be inviting individuals, groups and companies to express their interests in providing various skills and services for the initiative.

Already, the programme is being expanded to cover other administrative regions and is expected to be rolled out in Region Ten before the end of the week. [Ministry of Housing and Water press release]