Antigua to borrow $20m from Venezuela bank for housing
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| Published on Wednesday, November 12, 2008 |
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By Oscar Ramjeet
Caribbean Net News Special Correspondent
Email: oscar@caribbeannetnews.com
ST JOHN’S, Antigua: The Antigua and Barbuda government is borrowing $20 million from a Venezuela bank to develop a residential community in North Sound for housing.
A motion for the government to borrow this sum from Banco de Desarrollo Economico Social de Venezuela was passed in the Lower House of Parliament on Monday.
The Antigua Sun reported that it will be a soft loan and $10 million will be paid out now to start construction work and the balance later.
Minister of Housing and Social Transformation Hilson Baptiste said that Antiguans had been promised housing for more than 15 years but that the promise did not materialise. He said that teachers, policemen, civil servants and other Antiguans needed their own homes and that his government would assist them to do so.
He said that government would provide lands and assist with infrastructure to develop the community. | | | | Reads : 995 | | | |
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