Deputy Minister for Works and Housing, Ms. Freda Akosua O. Prempeh, has revealed that the Akufo-Addo-led government will soon revive the defunct Bank for Housing and Construction (BHC).
Speaking in an interview with Today, Ms. Prempeh, who is also the Member of Parliament (MP) for Tano North constituency in the Brong Ahafo Region, revealed that her ministry was in talks with some institutions to fashion out modalities for the revival of BHC.
The Tano North lawmaker explained that government’s reason to resuscitate the bank was aimed at supporting the real estate industry with credit facilities.
“The country’s housing deficit is in the region of over 1.7 million and government alone cannot bridge this gap, hence the resuscitation of the defunct BHC,” she asserted.
The deputy minister further explained that the bank will offer long-term credit facilities to estate developers to put up affordable housing for the working class.
However, she said her outfit was working on a couple of other interventions to fill the housing deficit and also make it affordable.
For instance, “my ministry is putting measures in place to acquire land across the country for investors so that the cost of housing can come down,” she disclosed.
Ms. Prempeh further announced that government will soon lay before Parliament the Real Estate Bill among others to sanitise the housing sector.
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