JIS News

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  • Prime Minister, the Most Hon. Portia Simpson Miller, says the National Housing Trust (NHT) is solvent and secure with an asset base of $205 billion.
  • Mrs. Simpson Miller, who has portfolio responsibility for the NHT, assured that the agency’s mandate has not changed.
  • She informed that the NHT has honoured the first of its $11.4 billion contribution to the Government.

Prime Minister, the Most Hon. Portia Simpson Miller, says the National Housing Trust (NHT) is solvent and secure with an asset base of $205 billion.

Mrs. Simpson Miller, who has portfolio responsibility for the NHT, assured that the agency’s mandate has not changed and continues to provide affordable housing with emphasis on middle and lower income contributors.

The Prime Minister was making her presentation in the 2014/2015 Budget Debate in the House of Representatives, under the theme: ‘Going For Growth and Development: Working For The People.’

She informed that the NHT has honoured the first of its $11.4 billion contribution to the Government, which it was called upon to make last year, when Jamaica signed an agreement with the IMF, with the condition to reduce the national debt.

“Jamaica is in a better place today because of the role played by the National Housing Trust,” Mrs. Simpson Miller said.

Giving a synopsis of the NHT’s expenditure over the last financial year, Mrs. Simpson Miller said the agency spent over $22 billion on housing construction and mortgage financing; made refunds to over 150,000 contributors totaling $3.8 billion; granted over 7,500 mortgage loans to contributors; built 2,100 housing solutions; and provided over $3 billion in loans to contributors through its private sector partners under the Joint Finance Mortgage Programme.

She also noted that the Trust, through the Youth Upliftment Through Employment (YUTE) programme, contributed $32 million to the YUTE Build initiative, to finance the training of 100 inner-city young people in construction-related disciplines.

“Through the NHT, this Government is going for growth and development…we are working for the people,” Mrs. Simpson Miller said.