200 persons will be receiving their houselots at the end of the Ministry of Housing’s second ‘Dream Realised’ programme held in Lethem, Region Nine as scores of residents attended the event.
Minister of Housing and Water Collin Croal and Minister within the Ministry Susan Rodrigues along with Chief Executive Officer of the CH&PA Sherwyn Greaves were present.
A number of land titles are expected to be distributed as well.
According to a Facebook post from the Ministry, the Lethem Housing Support Programme was also launched. President Irfaan Ali launched this programme last month.
Hundreds of persons will be able to pre-qualify with banking institutions on the spot through the Lethem Housing Support Programme.
Middle low-income homes costing $3M will be constructed under this initiative; $1 million in support will be provided to each beneficiary for the building costs.
The Housing Ministry will also be collaborating with the New Building Society and the Guyana Bank for Trade and Industry, as they will be offering loans to the tune of $2 million, at a rate of 3.5% to persons interested in the initiative.
Approximately six hundred land allottees in the region will benefit.
With support from the government, the allottees will not be required to provide collateral to the banks. Labour force and materials will be utilised from the region.
[Extracted and modified from Ministry of Housing and Water’s release]