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Government of Ghana releases GH¢40 million for mortgage financing

Government has released some GH¢40 million to support the efforts by the private sector in bridging the housing deficit in the country. The fund which has been made available to some selected banks in the country is expected to add to additional funding to be provided by private estate developers.

Deputy Minister of Finance, Charles Adu Boahen disclosed this at the opening of the Ghana affordable housing finance forum in Accra. Ghana as a country needs about 2 million housing units to be able to bridge the affordable housing gap which has been a major concern for many in the country.

According to Deputy Finance Minister, Charles Adu Boahen, funds have been made available to some selected banks at a very low-interest rate as government’s support towards mortgage financing. He said, “Government has released an amount of GH¢40 million to the commercial banks as part of funds to cushion the support of the financial sector in providing a low-interest mortgage.

 

MYND NEWS

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