Government 400 Billion Budget for Cheap Houses

Suharso said, according to Presidential instructions, the government provided 5600 units of housing for the citizens of ex-East Timorese who fled to NTT. "The 300 billion for 5600 units of housing for the citizens of ex-East Timor and the local communities affected by the problem area was a few years ago," explained Suharso. He mentioned the provision of cheap housing unit 5600 is expected to be completed later this year. Meanwhile the rest of the budget allocation of Rp 100 billion, according to Suharso will be used as a revolving fund that is managed by the Public Service Board (BLU) Housing Financing Center. In 2010 the government established BLU Housing Financing Center to realize the sustainable and efficient housing finance, especially for low-and middle-income people. Ministry of Finance will oversee the financing facilities of BLU under the Ministry of Housing. But society does not deal directly with the ministry for funding remains through banks. The government asked banks still verifying mortgage carefully so right on target. Determination Housing Finance Center as the implementing agency BLU management scheme established under the Minister of Finance Decree No. 290/KMK.05/2010 and set into full BLU. Currently Kemenpera been working with several national private banks and the Association of Regional Development Banks as well as some Regional Development Banks (BPD) to implement the Housing Finance Liquidity Facility program (FLPP). Cooperation between Kemenpera and BPD because BPD is needed to reach target communities in areas in need of financing home ownership with low interest rates and affordable with a tenor of 15 years

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