1,300 applications received, 700 approved for Cement and Steel Subsidy to date- Min. Rodrigues
The Ministry of Housing and Water’s Cement and Steel Subsidy Programme has attracted more than 1,300 applications to date, with over 700 applicants already approved for the subsidy.
Minister within the Ministry of Housing and Water, Susan Rodrigues made the disclosure during an outreach in Anna Regina, Region Two Friday last.
The $800 million Cement and Steel Subsidy initiative is designed to provide support to eligible families and individuals embarking on home construction.
Under the programme, persons constructing homes valued at $6 million or less will be eligible to receive vouchers for the purchase of one sling of cement and the necessary steel.
For those undertaking home construction projects ranging from $6 million to $25 million, the subsidy will cover the provision of two slings of cement.
Minister Rodrigues stated that the government acknowledges the financial challenge faced by individuals who have the capacity to afford monthly mortgage payments, but lack the funds for the equity down payment.
To address the issue, the President Dr Mohamed Irfaan Ali – led government has introduced the subsidy programme aimed at helping individuals qualify for mortgages, thereby facilitating their journey to homeownership.
“The president of Guyana and the Ministry of Housing is always working to ensure that we remove all of the hurdles and all of the impediments from people achieving their dream of homeownership,” Minister Rodrigues underscored.
She reiterated that the programme is not a ‘handout’, but rather a carefully crafted initiative intended to provide much-needed assistance and relief to citizens.
During last Friday’s event, some 79 Region Two residents received vouchers for steel and cement. This distribution followed a similar exercise conducted in the region a few weeks prior, where 52 residents benefitted from the programme.
The programme targets close to 3,000 prospective homeowners in the initial phase. To date, vouchers have been distributed in Regions, Two, Three, Four, Five, Six and Nine.