Press briefing of Cabinet Decision taken on 2020-09-02

Raising debt capital to finance the Affordable Middle Income Housing Project by the issuance of Debentures

- The Cabinet, at its meeting held on 2020‑05‑27, granted approval to implement a housing project enabling to make available houses affordable for the middle income salary earners employed in the public and private sector. As such, the proposal made by the Prime Minister in his capacity as the Minister of Urban Development & Housing for the issuance of debentures of Rs.25 billion validate for a period of 05 years to secure the initial capital necessary for the implementation of the said project was approved by the Cabinet. Further, the approval was also granted to settle the debentures by the revenue to be earned by selling the houses constructed under the said project and to grant housing loans through the State Banks for the buyers of the housing units at a concessionary interest rate for a tenor of 25 to 30 years.