International Finance Corporation- a member of the World Bank Group signed a Landmark agreement with the Fijian Government today.
The aim is to bring in the private sector to help provide affordable and climate-resilient homes for low and middle-income families.
This is in line with the Government’s vision to provide affordable and decent housing for all communities by 2020.
Attorney-General Aiyaz Sayed-Khaiyum says they are steadily realizing their vision to provide a new range of affordable, high-quality housing options for Fijian families in ways that make sense in our rapidly modernizing economy.
Khaiyum added they’re re-imagining the housing sector; building a new housing market where more ordinary families can afford to own a home, own a strata title and rent properties at affordable rates.
IFC’s Director for East Asia and the Pacific, Vivek Pathak says they know Fiji is vulnerable to natural disasters and the damage caused by cyclones in the past highlights the need for affordable housing which is both climate resilient and energy efficient.
IFC understands Fiji’s vulnerability to natural disasters and damages caused by cyclones in the past and the need for affordable housing which is both climate resilient and energy efficient.
They will also assist in developing a housing finance product to help increase access to finance for low and middle-income families.
IFC is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in developing countries.