Housing Minister Austrie at AID Bank

ROSEAU, Dominica: Dominica's Minister for Housing, Reginald Austrie has outlined the seven components of the Government’s Housing Revolution.

Austrie made the remarks at the Handing Over Ceremony where Prime Minister and Minister for Finance Roosevelt Skerrit presented a cheque for $3 million to the AID Bank in support of housing development in Dominica.

The seven components of the Housing Revolution are:

1. Money being made available to GHLB and AID Bank

• The sum of $12 million dollars is being made available to the Government Housing Loans Board and AID Bank for un-lending to certain categories of persons in the public and private sectors at an interest rate not exceeding   5 percent. The institutions have already received $7 million.

2. Home Repair and Maintenance Programme

• $1 million worth of building materials has arrived in Dominica to assist in that programme. An initial amount of $3 million is available.

    3. Installation of Washroom Facilities

• This component is intended to assist families in the installation of washroom facilities across the country.

    4. Purchase of model houses with assistance from the Government

• Two model houses from Costa Rica are expected on island soon. The houses will be erected in Jimmit. Government will make special terms and conditions available for the purchase and procurement of model houses. Houses will be constructed on private lands and in Government Housing Schemes.

   5. $3 Million from China for the Carib Territory

• $3 million from the Chinese Government will assist in improving the housing stock in the Carib Territory. Eight locations in the Territory have already been identified.

6. Shelter Development Programme administered by AID Bank on behalf of Government

• This Programme is aimed at single persons earning $1000 per month or couples earning $1, 500 a month for home improvement (to a maximum of $20,000) and new home construction (to a maximum of $60,000). The interest rate is at 4.75 percent on the reducing balance.

    7. Squatter Regularization Programme

• Over 175 families have benefited from this programme, launched in 2005. These families have bought land at only $1 per square foot. Some of those families squatted on state lands for over 20 years. In addition all fees with respect to certificates of titles are being absorbed by the Government.

An initial amount of $32.4 million dollars will finance Government’s Housing Revolution. The Government of Venezuela is providing $29.4 million dollars in the form of a grant and a soft loan while the Chinese Government is providing a grant of $3 million dollars.