Basseterre, St. Kitts, July 17, 2018 (SKNIS): With just a month gone since the Government’s employee property ownership financing programme was launched at the Development Bank, 97 applications have already been received with applicants borrowing from as low as $8,000 to as high as $750,000
During his monthly press conference on July 17, Prime Minister Dr. the Honourable Timothy Harris, said that the government is encouraged by the strong and positive response by government employees to this programme within the past few weeks.
“We wish to empower our people, and to increase their stake in our country. This is a most affordable mortgage programme available in the country at this time at an affordable interest rate of 5% per annum,” he said.
He said that the programme will go a long way in encouraging wealth creation and generation in the Federation and that first time owners will also benefit from concessions of import duty and customs service charge.
“Those who are first-time home owners will, in addition to receiving the lowest mortgage financing available, also benefit from concessions of Import Duty and Customs Service Charge,” he added.
Prime Minister Harris also assured the public that situations like what transpired with Senator Nigel Carty in competing with civil servants in the First Homeowners’ Programme under the former Douglas-led Administration will not occur again.
“The situation where Senator Nigel Carty out-competed civil servants in the First Homeowners’ Programme will not occur again, because no Government Minister is eligible to apply and receive funding under the Government’s employee property ownership programme,” he added.
He also applauded the success of the Agriculture Support Fund that has attracted approximately 193 applicants with a large number of farmers and fishers showing interest in the programme.
“The purposes to which resources are to be applied span the gamut of possibilities, including to purchase fencing wire, mulch and irrigation systems; upgrade of farm products; hurricane relief; fishing equipment and boat repairs,” Prime Minister Harris said.