Home ownership to increase with $1.4B budget allocation
Guyana Chronicle
April 5, 2004
THE housing sector is poised for accelerated growth this year, with the Government allocating approximately $1.4 billion of the National Budget for infrastructural works in housing areas countrywide.
Under the Low Income Settlement project, more than $1 billion will be spent to complete infrastructural works and upgrade squatter settlements in Region One to 10, including Amelia's Ward, Waterloo, Good Hope, Non-Pariel, Foulis, Golden Grove, Best, Charity, Pomona and Anna Regina.
Another component of the project caters for the preparation of 9,172 house lots at Zeelugt, Tuschen, Caneville, Block 22 Wismar, Sophia, Parafaite/Harmonie, Hampshire South, Belvedere, Hope, and Williamsburg South.
Under this programme funding has been allocated for the commencement of the environmental home ownership training programme (EHTP); and start work on the development of a practical model and functional framework for low-income funding under the Mortgage Access Credit Scheme.
These projects are expected to provide improved operational efficiency and improve living conditions for every Guyanese. Work on these projects commenced on January1, 2000 and is expected to be completed by December 31, 2004.
Another $200M has been allocated to complete infrastructural works in new and existing housing schemes at Eccles, Vigilance, Sophia, Cornelia Ida, Hope Lowlands, Enmore/Haslington, Belfield, Mon Repos, Cummings Park, Martyrsville, Fortlands/Ordnance, Number 77 Village, Amelia's Ward, Parafaite/Harmonie, Paradise/Foulis and Wisroc.
Work on this project started on January 1, 1999 and will be completed by December 31, 2004.
Funding has also been allocated for the construction of roads, drains, and a water distribution network at Cornelia Ida, Eccles, Hope Lowlands, Enmore/Haslington and Belfield.
Under the European Union housing development programme, $10M will be used to procure the services of a consultant to prepare the terms of reference for the design of new housing areas and to establish a community development fund.
In 2003, government invested more than $1.2 billion in the housing sector to improve institutional and regulatory capacity, and expend the infrastructure in new and existing settlement areas.
Of that amount $1 billion was spent under the IDB programme, to complete about 3,100 houses at Tuschen, Non Pariel, and Best Village, construct roads, drains, and structures at Diamond, Golden Grove, Foulis, Good Hope, Hope/Waterloo Experiment, Pomona, Anna Regina, Charity and Amelia's Ward, and design an additional 9,171 house lots at Zeelugt, Tuschen, Caneville, Block 22 Wismar, Sophia, Parafait/Harmonie, Hampshire South, Belvedere, Hope and Williamsburg South.
Work on the Low-Income Settlement Programme at Charity, Essequibo Coast continues to progress smoothly. The project is funded by the government of Guyana and the Inter-American Development Bank (IDB) at a cost of $182M.
Additionally, government, along with the Central Islamic Organization of Guyana (CIOG), Food for the Poor and Guyana Sawmills, embarked on a Poverty Housing project to provide low-cost housing for the poor. Under the project, houses are constructed at a cost of $300,000.
Government also approved an increase in the threshold for loans from $1.5M to $2M and loans can be accessed from New Building Society and Citizens Bank.
A National Policy on Land and House Distribution was tabled in Parliament. This deals with the distribution of State land to Guyanese.