$78B allocated to develop housing infrastructure
The sum of $78 billion has been allocated for nationwide housing infrastructure development, aligning with the government’s commitment to providing affordable housing to Guyanese.
Senior Minister in the Office of the President with responsibility for Finance, Dr Ashni Singh made the announcement during the 2024 National Budget presentation on Monday.
The allocated funds will be utilised for substantial infrastructure projects in both new and existing housing schemes. These include the construction of roads, drains, bridges, and the installation of utilities to meet housing demands.
Dr Singh reminded the National Assembly that the housing sector was previously ‘non-existent’ under the Coalition Government. He emphasised the government’s efforts to resume the People’s Progressive Party’s outstanding work from before 2015.
Minister Singh mentioned that 30,000 house lots were distributed over the past three years.
“And we are well on our way to exceeding our target of delivering 50,000 house lots during our first term in office,” he said.
The Central Housing and Planning Authority also processed and delivered 6,822 land titles and transport to landowners, with an additional 5,000 expected in 2024.
The government continued to build affordable homes, completing 1,165 units, and ongoing works for 1,134 units.
Specific efforts were made for low-income earners, with 706 homes completed at Leonora, Anna Catherina, Great Diamond, and Ordinance Fortlands, while 487 are in progress.
Some 370 moderate-income units were completed in Cummings Lodge, Amelia’s Ward, and Little Diamond, while 222 are in progress.
A total of 89 young professional homes were also completed at Providence and Prospect, with 425 in progress.
Under the Lethem Housing Support Initiative, 330 individuals pre-qualified for loans, 100 loan applications were approved, 12 homes were completed, and 36 are under construction.
Infrastructure works were also executed in various housing developments including Amelia’s Ward, Good Hope, Charity, and Great Diamond.
To support home construction, the Supportive Housing Assistance Programme was launched, issuing over 962 vouchers totaling $131.6 million.
In 2023, $52.7 billion was spent on constructing roads, bridges, and culverts in new and existing housing developments.