The government’s first home grant initiative has helped over 200 families become homeowners in the current fiscal year.
The grant is divided into two categories: one for those earning $50,000 and below annually and another for those earning $50,000 and above annually.
So far, 68% of the allocation has been used for the first category, and 75% for the second category. Housing Minister Maciu Nalumisa announced that more payments will be processed before the end of the current financial year.
In the recent disbursements, 128 applicants received $2.8 million, with more applicants expected to be approved and paid out before the end of the year.
The utilization rate for applicants earning above $50,000 has been high, with 96 applicants receiving $1.1 million and 6 approved and paid out by the end of July.
Households earning $50,000 or below can receive $30,000 to construct their first home or $15,000 to purchase their first home. Since the scheme’s introduction in 2014, over 3,000 families have benefited.
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