ROWLEY: BANKS CAN HELP HOME OWNERS

Over 10,000 families are expected to benefit from an aggressive programme of government assistance for low income earners to build and improve their homes as well as to regularise squatter settlements.

As Government and the IDB signed a loan agreement for the first tranche of an IDB loan aimed at supporting a US $100 million housing programme, Housing Minister Martin Joseph detailed some of the features of the Second National Settement programme, which would marry private sector capital with state subsidies to fund the programme. Speaking at a news conference the Minis-ter of Planning and Development Dr Keith Rowley appealed to the banking community to come on board and provide loans to small  contractors who would be part of the programme.

Noting that it was the private sector which would be carrying out this programme, Rowley said that much of the building would be done in small contracts of perhaps less than $5 million. He said: “We would like these small contractors (involved in the programme) when they approach the bank, to be treated as other borrowers. “We are simply saying to the banking community, ‘We have a major billion dollar programme here which might manifest itself all the way down to the same man. “Gear up and get on board’.”