Extra $3M to complete Raiwai flats to be sourced from China loan
Extra $3M to complete Raiwai flats to be sourced from China loan
By
fijivillage.com
Tuesday 07/05/2013
Indications are that the extra $3 million needed to complete the new Raiwai flats will be sourced from the $20 million loan given by Exim Bank of China for the new Raiwai and Raiwaqa flats.
This is after the China Railway No.1 surpassed the $9 million budget allocated for the Raiwai project.
Acting Deputy Secretary for Local Government, Urban Development and Housing Kolinio Bola said the PRB board will have to deliberate with government if the extra funds can be borrowed from the $11 million Raiwaqa flats project which is currently available.
Fijivillage then questioned Bola if this would affect the second housing project in Raiwaqa.
According to Bola, their main aim is to just complete the Raiwai flats.
Construction is still on hold.
Meanwhile, more than 4,000 applicants are awaiting construction to resume.
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