By Nikieta Liburd
Nevis Reporter
(Charlestown, Nevis) – A new infusion of $10 million from the Social Security Board is opening the door to construction of hundreds of new affordable homes on Nevis. This will help decrease the backlog of applicants for housing loans, according to the minister responsible for the program.
“We are hoping to construct at least 300 houses. We are trying to match the demand for housing, presently we have about 700 applicants,” the Hon. Robelto Hector, Minister responsible for Housing and Land in the Nevis Island Administration, said.
“We want to assist persons in Nevis as much as we can. We want to match the demand for affordable housing in Nevis. Since we have been in office we have constructed 57 houses and that has been done in about 18months,” Mr. Hector said.
Mr. Hector explained the terms of the loans to be made to prospective builders.
“The loan is to be paid back within the period of five years with a seven percent interest rate. We are hoping to build affordable housing-island wide,” Mr. Hector said. “We also build houses on persons’ own property. At this time we are trying to obtain land in Gingerland.”
The loan was finalized on Jan. 31, when the directors of the Social Security Board came to Nevis for their monthly meeting.
The Hon. Sam Condor, Deputy Prime Minister and minister responsible for Social Security, was present at the meeting and gave his views.
“One of the mandates of Social Security was to harness the resources, the savings of this country for the betterment and development for the people of St. Kitts and Nevis,” Mr. Condor said. “I am pleased to see that Social Security is honoring its mandate to do exactly that an so I am please that as we celebrate our 30th anniversary we are here in a signing ceremony for a $10 million loan to the Nevis Island Administration for the building of houses on Nevis,” Mr. Condor said.
“I want to say to the premier that once the loans are dispersed and serviced well that the Social Security stands ready to assist in the development of the Nevis Island Administration, Nevis and the Federation of St. Kitts and Nevis,” he said.
“Recently when I was in Nevis there was a $10 million civil service mortgage scheme which we hope will be dispersed and be used properly and that there is a stimulus in the economy, that they can come back to us for more money because we are always willing to help, once the money is properly dispersed and activities is helping, to give more.” Mr. Halva Hendrickson, Chairman of the Social Security Board, said.
The Hon. Joseph Parry, Premier of Nevis, gave his views.
“I am very happy that over a period of less than two years we have been able to have $20 million for housing on the island of Nevis,” Mr. Parry said. “I am certainly sure it will be a part of the stimulation package. The economy is pretty well stimulated at this time.”
The signing of the agreement was done by The Hon. Joseph Parry, Premier of Nevis, The. Hon. Sam Condor, Deputy Prime Minister and Minister responsible for Social Security, The Hon. Robelto Hector, Minister responsible for Housing and Land in Nevis, Mrs. Sephlin Lawrence, Director of the Social Security Board. Mr. Halva Hendrickson, Chairman of the Social Security Board and Mr. Eustace Nisbett, Manager of the Nevis Housing and Land Development Corporation.
