by Eric Haurupma – EM TV News, Port Moresby
The Duran Farm Housing project, headed by the National Housing Corporation, will build over 200 homes for PNG Nurses Association (PNGNA) members.
Facilitated by Nambawan Super Limited, the funding is thanks to the PNGNA members’ savings, which guarantee the security needed to obtain loans in order to build these houses.
The National Housing Corporation Community-Policy Marketing and Investment Manager, Wemin Boi, said 200 nurses have qualified for this new housing scheme.
He said, however, from the 200 applicants considered only 145 names were approved to obtain bank loans, while others are awaiting final clearance.
Those qualified under the scheme will pay approximately K500 per fortnight for a period of twenty years. The cost of the residential apartments are K250,000, including land.
BSP Conveyance Lawyer, Hebert Best Wally, upon signing the MOU on behalf of BSP said the bank will lend 90 per cent of the loan to its PNGNA clients, given their 10 per cent NASFUND savings contribution.
PNG Nurses Association president, Eimi Kaptigau, said this project is a dream come true for all the nurses as they have been facing accommodation problem.
PNGNA is the first association in the country to take this initiative whilst working closely with stakeholders, NHC and Nabawan Super Limited, in taking this great initiative to ease the housing problem in the city.