222 Loans Valued at $135.41 Million Provided Under Housing Microfinance Programme

Jamaica News: The Government’s Housing Microfinance Loan Programme (HMLP) has facilitated 222 loans valued at $135.41 million since its establishment in August 2017.

The HMLP involves partnership between the National Housing Trust (NHT) and credit unions, of which there are currently eight signatories.

It aims to expand the NHT’s reach to low-income contributors by improving their access to funds for housing financing.

Prime Minister, the Most Hon, Andrew Holness, who has Portfolio responsibility for the NHT, says 57 per cent of the loans disbursed to date were used for housing deposits.

He said that security guards, teachers and ancillary workers acquired more than 65 per cent of the $135.41 million disbursed, adding that “the applicable income ceiling was recently increased from $30,000 to $40,000 per week”.

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The Prime Minister was making his contribution to the 2019/20 Budget Debate in the House of Representatives on Tuesday (March 19).

Meanwhile, Mr. Holness advised that the NHT has approached over 30 employers and professional organisations for engagement in its Employer-Assisted Housing Programme (EAHP).

Under the initiative, which was introduced in the third quarter of the 2018/19 fiscal year, the NHT is seeking to partner with employers desirous of providing resources to construct houses for their staff.

Mr. Holness said among those already approached are a major employer of security guards; one of Jamaica’s largest manufacturing companies; churches, and other civil society and public-sector stakeholders “who have expressed an interest and are to confirm meeting dates”.

 

Source: JIS News

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