$4.89m for scheme
Assists retirees unable to pay off housing loans
FROM 2011 to-date, a total of $4.89million as housing assistance grant has been given to the Housing Authority of Fiji to assist its customers in paying off loans to maintain their houses.
Minister for Housing and Local Government Maciu Nalumisa highlighted this in Parliament last week during the debate on the renewal of Government’s guarantee of $150m (guarantee limit) for Housing Authority of Fiji’s borrowings for another Ɲve-year period from July 1, 2024 to June 30, 2029, the proposed guarantee period.
He said the Debt Relief Service Scheme was introduced by the company in 2011 as part of its social housing policy to assist customers who were facing Ɲnancial difficulties in servicing or repaying their loans.
“There are a lot of success stories about this initiative,” Mr Nalumisa said.
“I remember when I was in Housing Authority, there was this retiree who was just mourning the passing of his wife and the officers from Housing Authority went and served him a letter, telling him that his loan has been forgiven by Housing
Authority.
“And you know what he told the officers from Housing Authority, “this is one of the best letters”, one of the best messages that he had received in his entire life.”
The Debt Service Relief Scheme, he clariƝed, was only for customers who were retired and could not afford to repay their loans to the authority.
“It assists those that are proven to be medically unƝt and have lost employment as well as those who are proven to be mentally and also physically disabled.”
Mr Nalumisa said Housing Authority
was provided a security through a Government guarantee of $150m for a Ɲve-year cycle since 2008.
“This funding is utilised to fund the development of land, production of fully serviced lots, construction of houses and undertake various social and housing projects.
“Since 2008, the Authority has managed to deliver 2,661 lots in the Central, Northern, and Western divisions.
“A total of $304.46m was utilised since the inception of the Ɲve-year cycle Government guarantee while borrowing was kept at $150m.”