Finance and Development Planning Minister Amara Konneh
Konneh Urges Stakeholders To Direct More Investment To Housing Sector
By Robert Dixon/LINA
MONROVIA December 19 (LINA) Finance and Development Planning Minister Amara Konneh, has stressed the need to direct more investment to the housing sector to afford low-income Liberians the opportunity to own houses.
He noted that housing is a fundamental right for all citizens, and as such, the need to make it affordable to citizens cannot be over-emphasized.
According to the Liberia News Agency Minister Konneh made the call Thursday at the official issuance of ownership certificates to 16 Brewerville Estate residents held in Monrovia.
Konneh used the occasion to call on stakeholders to continue the idea that gave birth to affordable housing for Liberians through the mortgage system.
Also speaking, the President of the Liberia Bank for Development and Investment (LBDI), John Davies,III said 180 Liberians have already benefited from the US$10 million seed mortgage fund provided by the Central Band of Liberia (CBL).
“It is this one mortgage product that LBDI has rolled out and enjoyed by Liberians only because it is a requirement that one must be a Liberian before he or she can benefit from this scheme,” Davies noted.
It can be recalled that the public housing program in Liberia was initiated by the government of President William R. Tolbert during the late 1970s. This process was spearheaded by the National Housing Authority and the National Housing and Savings Bank, but the civil conflict rendered the sector dormant.