State Banks to provide Rs.1.5b for national housing project

Tuesday, 5 July 2011 00:39 -     - {{hitsCtrl.values.hits}}

A Memorandum of Understanding (MoU) was signed between the National Housing Development Authority and six state banks to provide Rs. 1.5 billion to the Jana Sevana Programme.

The MoU was signed before President Mahinda Rajapaksa at Temple Trees last morning.

Accordingly, the People’s Bank, Bank of Ceylon and National Savings Bank will provide Rs. 300 million while State Mortgage and Investment Bank and Housing Development Corporation will provide Rs. 250 million.

The Rural Development Bank will contribute Rs. 100 million to the programme.

Speaking at the occasion President Mahinda Rajapaksa said persons employed in the private sector and persons with low income should be given priority in granting housing loans.

Minister of Construction Engineering Services Housing and Common Amenities, Wimal Weerawansa said the Ministry has already constructed more than 11,000 houses in the past 6 months.

The Jana Sevana Programme aims to build one million houses throughout the island in the next 6 years. (