Glen Bart, MyVueNews.com
Basseterre, St. Kitts, 18th May, 2018 (MyVueNews.com) – From 1st June, 2018, government workers will be able to access a new housing program, in which an initial EC$30 million will be provided to fund the initiative.
The announcement was made by Prime Minister Dr. Timothy Harris, as he delivered the featured address at the opening of the Caribbean Investment Summit, being held at the St. Kitts Marriott Resort.
Prime Minister Harris disclosed, “The first tier of EC$15 million would be invested in the Development Bank for lending at 5 percent – the lowest rate in the Federation… The aim is to facilitate property ownership in the country and the upgrading of homes up to a maximum of EC$300,000. Beyond this amount, the excess will be negotiated on the Bank’s applicable terms.”
This housing program is in addition to existing programs currently in progress, and is likely to help in the stimulation of the economy.
The Prime Minister also announced that the Caribbean Development Bank has approved EC$8 million that will be used to further enhance the small business sector.
Government is also expected to launch shortly an Agricultural Development Fund that will assist persons who wish to pursue careers in agriculture. AN amount of EC$2 million will be allocated to this program, the Prime Minister said.