Construction of the first 48 homes is currently underway at New Culvert City Housing Scheme and Tabatinga Housing Scheme, Region Nine as part of the Lethem Housing Support Programme.
According to the Ministry of Housing and Water, the initiative was launched by the government to promote sustainable housing development in hinterland communities and meet the growing demand for move-in ready homes.
Each housing unit spans an area of approximately 550 square feet and comprises two bedrooms, a living room, a kitchen, and sanitary facilities.
The Lethem Housing Support Programme is a significant commitment of His Excellency, Dr Mohamed Irfaan Ali. The initiative, valued at $600 million, will see the government contributing $1 million each to 600 low-income homeowners to mitigate the cost of their home construction.
The Guyana Bank for Trade and Industry (GBTI), the New Building Society (NBS) and Republic Bank Limited (RBL) are financing the remaining $2 million for the prospective homeowners at a rate of 3.5 per cent.
The collateral-free gesture from the two financial institutions would see the allottees repaying just about $14,000 per month.
To support the local economy, the construction materials such as bricks and timber used for building the homes are being sourced from nearby communities, including St. Ignatius, Shulinab, Kwatamang, Shea, and Surama.
Overall, the Lethem Housing Support Programme is a significant initiative by the government to promote sustainable housing development in the hinterland communities, providing residents with decent and affordable homes while also supporting the local economy.
