Good news for people looking to own their own homes as they will soon have an opportunity to have access to affordable, climate resilient and energy efficient housing.
This comes after the Minister for Economy and Attorney General Aiyaz Sayed‑Khaiyum signed a Memorandum of Agreement with the International Finance Corporation and the World Bank at the opening of the official World Bank Office in Suva today.
Sayed‑Khaiyum says that this partnership will bring in the private sector to help provide affordable and climate‑resilient homes for low and middle‑income families.
He says that the move, which is in line with the government's vision to provide affordable and decent housing for all communities by 2020, is aimed at supporting families who struggle to find housing due to rising land and home prices.
International Finance Corporation East Asia and Pacific Director Vivek Pathak says that infrastructure is important for any growing economy but it is of no point if it is not affordable.
Pathak also revealed that the International Finance Corporation will assist in developing a housing finance product to help increase access to finance for low and middle‑income families so people can look into home ownership, regardless of their income level.
