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Officials from China’s Export/Import Bank are expected into the country next month to finalise talks on a $70 million joint loan by Fiji’s Housing Authority and Public Rental Board.
Housing Authority chief executive officer Alipate Naiorosui confirmed this to Fiji Live today, at the company’s 50th anniversary celebration at its headquarters in Valelevu, Nasinu.
“The Chinese EXIM Bank delegation will be arriving in Fiji on the 4th of next month so we are hoping to meet with them to see what decision they have made on our loan application,” Naiorosui said.
“They had approved this $70 million loan in principle and we are praying for its approval, so the decision on whether we are getting it or not will be known in two weeks’ time when they arrive.”
The portion of the money coming to Housing Authority is expected to fund the development of home lots over a total 220 hectare in Tacirua and Nepani properties, and provide dwellings for 5000 new home owners, Naiorosui said.
He added there was a deluge of applications for homes from people in the low to middle income brackets and Housing Authority was in talks with over 3000 people interested to take up the new lots.
The company is presently undertaking a $6.7 million development of a property in Wainibuku, Nasinu which will produce over 200 lots.
Part of the $70 million loan from the EXIM bank will go to the Public Rental Board for development of residential lots in Raiwai and Raiwaqa.
