400-plus households assisted under first home grant program – Kumar
28 July, 2021, 7:00 am
Fiji’s Minister for Local Government, Housing and Community Development Premila Kumar says 435 households were assisted with the increased first home grant assistance of $30,000 for each household that earns below $50,000 a year.
She said this was to encourage homeownership and drive economic activities.
She added another 62 households were also assisted under the first land purchase program.
In her parliamentary statement in response to the 2021-2022 National Budget announcement, Ms Kumar said those applicants secured bank loads in excess of $60million– “resulting in an almost 10-fold impact on total economic activities in construction and mortgage sectors”.
“Another 190 households are expected to benefit from the first home program in the new financial year, while up to 100 households will benefit from the first land grant program,” the Minister said.
Meanwhile, Ms Kumar said the reduction in budgetary allocation for PRB and HART Homes would not affect the tenants.
She says the PRB and HART Homes will be using their cash reserves built over time with Government assistance.
“PRB has cash reserve in excess of $8million and HART Homes with over $0.5million.”