Social Security loans an additional EC$10 million to NIA
By Pauline Waruguru
Nevis Reporter-SKNVibes.com
Charlestown, Nevis: Nevisians who aspire to purchase houses through the government scheme have an opportunity to do so following an EC$10 million loan agreement signed today (Thursday) between the Nevis Island Administration (NIA) and the Social Security Board which will be used for the construction of 300 homes.
The Premier of Nevis, Joseph Parry, signed on behalf of the NIA while Halva Hendrickson, Chairman of the Social Security Board signed on behalf of Social Security at a ceremony held at the Nevis Social Security Board office boardroom on Chapel Street, Charlestown.
Board members the Social Security Board were present during the signing ceremony as they had just attended their monthly board meeting in Nevis. Also present was Eustace Nisbett, Manager of Housing and Land Development in Nevis. ~~Adz:Right~~
Prior to the signing of the agreement the Director of Social Security, Sephlin Lawrence told members of the board present and reporters that this is the third loan in a series already given to NIA. The first loan of EC$9 million was given to NIA during the Concerned Citizens Movement’s (CCM) tenure in office.
The second loan is an EC$10million loan that will finance a civil servants’ housing project. The current loan is for general housing that can be accessed by all Nevisians.
Lawrence was optimistic that the loans would stimulate economic growth. She said when the loans are utilised; NIA could always negotiate for additional loans.
Parry said those left out through the civil servants’ scheme are included through the additional EC$10 million available. The Premier said despite the envisaged recession in USA there was no recession locally, “I am proud to be part of this ceremony.”.
Deputy Prime Minister in the Federal Government, Sam Condor, who was present during the ceremony, said the signing of the loan agreement had coincided with Social Security’s 30th anniversary celebrations.
“We are in a signing ceremony to build houses on Nevis,” he said. He continued that once the loans are disbursed, Social Security would work closely with the NIA to ensure that the housing projects are completed. He said this was in keeping with the government’s policy of ensuring sustainable development in the Federation.
The Minister for Housing in the NIA, Robelto Hector, commended the Social Security Board for facilitating the NIA’s ability to provide houses for Nevisians. “This makes our housing vision a reality,” he said. Hector said while every effort would be made to enable Nevisians to access funds that will allow them to own homes, they had to satisfy the requirements of financial institutions, which will disburse the loans.
When asked whether there was any facility established to house those who had no income to pay for mortgages, Hector said such persons’ cases are assessed through the Social Welfare Department in the Ministry of Social Development. He said 13 persons in that category have already been assisted.
Hector said it was the government’s policy to ensure that all Nevisians of all backgrounds and political affiliation are housed.
Photos: Loan signing agreement ceremony held at the Social Security Board office in Nevis. The NIA has been loaned an additional of EC $10 million for general housing
