Concessional loan scheme to purchase housing

Friday, 18 September 2020 - 13:00


At a discussion held with President Gotabaya Rajapaksa and officials of the State Ministry of Rural Housing, Construction and Building Material Industries yesterday (18) at the Presidential Secretariat, it was stated that a loan scheme with State banks to complete the purchase of houses at an annual interest rate of 6.25% over a period of 30 years.

The President noted that free lands will be provided to the ministry to develop flats and apartments suitable for middle class.

The President also instructed that steps be taken to expedite the resettlement of 409 displaced families living in 22 welfare camps in the Northern Province.

Chairman of the Presidential Task Force for Economic Revival and Poverty Alleviation, Basil Rajapaksa pointed out that more than 526,000 families across the country do not have access to toilets and called for expediting the provision of sanitation facilities.

State Minister Indika Anurudhdha who also attended the meeting commented that the sewerage systems in the old apartment complexes need to be maintained.

President Rajapaksa also added that the Building Materials Corporation must be revived as well.

State Minister Anuruddha remarked that 1500 housing units are planned to be built in Werellawatta, Mihindupura, Parangiyakumbura, Dahaiyagama, Mattegoda, Soysapura and Tangalle under the “Sapiri Mahal Niwasa Program” to coincide with the World Habitat Day which falls on 05 October.

The President has pointed out the importance of involving both the public and private sectors in all constructions.