- DBJ will set aside $90 million to assist landowners who have applied to LAMP for titles and are unable to complete the process due to lack of funding.
- The sum will be administered through a Landowner Payment Assistance Facility.
- In excess of 2,000 land title files are in the possession of LAMP which cannot be transferred primarily because the beneficiaries are unable to meet the costs.
The Development Bank of Jamaica (DBJ) will set aside $90 million to assist landowners who have applied to the Land Administration and Management Programme (LAMP) for titles and are unable to complete the process due to lack of funding.
The sum will be administered through a Landowner Payment Assistance Facility,which will specifically target those landowners who have made some payments toward their files, but who have been unable to find the remaining funds to complete thetransaction.
“This is significant because it has implications for rural development as many of these landowners will use their titles as collateral to access loans for agriculture and other productive purposes,” Minister of Finance and Planning , Dr. the Hon Peter Phillips said.
He was speaking during the opening of the 2014/15 budget debate in the House of Representatives on April 17.
In addition, an allocation of $20 million will be provided to the Ministry of Water, Land, Environment and Climate Change, to fund the operation of Adjudication Committees in the various communities within affected parishes, to resolve ownership issues which will result in the issuance of titles to these landowners.
The LAMP Programme was launched in 2000 and since its inception, in excess of 25,000 files have been opened of which approximately 4,000 titles have been issued to new home owners.
Dr. Phillips explained that to date, there have been a number of issues impacting the success of the programme in relation to the completion of more titles, one of which has been the applicants’ inability to pay all the amounts to obtain their titles.
The current data shows that in excess of 2,000 land title files are in the possession of LAMP which cannot be transferred primarily because the beneficiaries are unable to meet the costs.
“Without titles the landowners cannot access financing from banks or other financial institutions to undertake productive activities or improve their social standing, including housing, etc,” Dr. Phillips said.