|Sunday, 4 August 2002|
State, private banks to release Rs. 2,000m as housing loans
by CHAMIKARA WEERASINGHE
All the banks have agreed to release Rs. 2,000 million to National Housing Development Authority (NHDA) as housing loans for the homeless.
Heads of all state banks and private banks have announced their consent to release the funds, at a meeting held at the Central Bank, Colombo recently.
The meeting was convened by P. Paskeralingam, Advisor to the Ministry of Policy Development and Implementation, on a directive from Prime Minister Ranil Wickremesinghe, to get participation of the banking sector in the government's efforts to develop housing sector in the country. The Governor of the Central Bank A. S. Jayawardena chaired the meeting.
The Central Bank had agreed to start a housing loan program at a reduced interest to families of migrant workers, and the recoveries could be made from their NRFC accounts, on a proposal, made by Rienzie Wijetillake, Chief Executive Officer of the Hatton National Bank.
A loan scheme to provide a maximum of Rs. 100,000 to low-income families was also agreed upon by the banks. People live in rural, urban and the plantations areas will benefit from this loan scheme either to build or improve their houses.
NHDA General Manager C. A. Wijeweera told the meeting that the NHDA would meet the housing needs of 6,600 families in 123 locations, without any delay.
The Central Bank will monitor the progress of recoveries and repayment.Deputy Governor of the Central Bank, P. M. Nagahawatta and the Secretary of the Housing and Plantation Infrastructure Ministry, W. D. Ailapperuma were among the participants at the meeting.
Produced by Lake House