EARLY FIGURES SHOW STRONG INTEREST IN PROPERTY OWNERSHIP AND AGRICULTURE SUPPORT PROGRAMMES IN ST. KITTS-NEVIS

BASSETERRE, St. Kitts, July 17, 2018 (Press Unit in the Office of the Prime Minister) – Prime Minister Dr. the Honourable Timothy Harris released figures from the Development Bank of St. Kitts and Nevis that indicate a strong interest in the recently launched multimillion property ownership financing programme for Government employees and the Agriculture Support Fund.

Prime Minister Harris announced that the property ownership programme has received 97 applications to date to facilitate home improvement work, property fencing, construction of new homes and the purchase of land.

“We are encouraged by this strong and positive response by our Government employees,” the prime minister said during his press conference held earlier today (July 17).

Under this programme, civil servants will be able to access up to EC$300,000 to facilitate property ownership in the country and to upgrade homes at a 5 percent interest rate.

Prime Minister Harris insisted that his Team Unity Government is focused on empowering the people and increasing their stake in our country, and further stressed that, “This is the most affordable mortgage programme available in the country at this time – at an interest rate of 5% per annum and it will go a tremendous way in spurring wealth creation and wealth generation in the country. But in addition, those who are first-time home owners will, in addition to receiving the lowest mortgage financing available, also benefit from concessions of Import Duty and Customs Service Charge on the material.”

Prime Minister Harris, who is also Minister of Finance, reiterated that no minister of Government is eligible to apply and receive funding under the Government’s employee property ownership programme.

The Agriculture Support Fund at the Development Bank has received even stronger interest from members of the farming and fishing communities, with some 193 applications received to date.

“This is a huge number of farmers and fishers showing interest in the fund,” Dr. Harris stated, adding, “The purposes to which resources are to be applied or have been applied span the gamut of possibilities, including the purchase of fencing wire, mulch and irrigation systems, upgrade of farm products, hurricane relief, fishing equipment and boat repairs.”

Both the property ownership financing programme and the Agriculture Support Fund were launched on June 1, 2018.