President allocates 1.5 billion rupees for Sri Lanka’s low income housing loan program

July 04, Colombo: Sri Lanka President Mahinda Rajapaksa today signed a memorandum of understanding (MoU) allocating 1.5 billion rupees for the Jana Sevana housing loan programme for low income families implemented under the Mahinda Chinthana concept.

The President in his capacity as the Finance Minister held a discussion at the Temple Trees today with relevant officials to provide financial assistance to the program that is aimed at providing a house to each family in accordance with Mahinda Chintanaya.

According to the agreement banks including National Savings Bank, Bank of Ceylon, Peoples Bank, and Regional Development Bank are required to provide funds for the Housing Development Authority to carry out the programme.

Addressing the meeting the President said that when issuing loans, priority should be given to low income people and private sector employees and asked the bank officials to minimize the documentation necessary to make the process easier for the loan applicants.

The President said the Jana Sevana Housing Development Programme should also be implemented with the support of regional political leadership as necessary.

Minister of Construction, Engineering Services, Housing and Common Amenities, Wimal Weerawansa said over 11,000 housing units have been built this year under the Jana Sevana Housing project and his Ministry aims to complete the construction of further 25,000 housing units before end of this year.

Deputy Minister Lasantha Alagiyawanna, Secretary to the President Lalith Weeratunga and several Ministry officials were present at the occasion.

(Photos by Chandana Perera)

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