Cabinet Approves Housing Finance Bank Proposal

This article was last updated on May 25, 2022

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This comes after the Minister of Housing and Physical Infrastructure, Jemma Nunu Kumba presented the proposal to the council.

The Minister of Information and Broadcasting Dr. Barnaba Marial Benjamin after the meeting said: “The Council after long discussion saw this project of establishing a housing finance bank important this will make the citizens of this country seek for mortgage loans so that people can build their houses by borrowing from the bank.”

“A lot of our senior service who are retiring they need to have descent houses even in their retiring but because there is no mortgage facility that people can go a borrow loan,” he continued.

“The present commercial banks they give housing loan commercial loans but they give at very high interest rates of 10-15 % and you are to pay back after a short period of three to five years,” Dr. Benjamin said.

“With this new bank it will be accessible with our partners and it opens up our private. This also confirms with the government’s police of public private partnership,” he said.

The Minister said the Council of Ministers approved the modernization and transformation of South Sudan National Prison Service especially from its present state.

“Most of our prisons are not in a good sharp so the Council of Ministers passed that there must be modification and transformation of all these prisons,” the Minister said.

The Council according to Dr. Barnaba Marial approved and passed the new name of the current Ministry of Environment.

“The Minister of Environment Alfred Ladu Gore made a presentation and seeking for approval of the change of the current name of the Ministry of Environment to be called the Ministry of Environment and Sustainable development,” Dr. Marial said.

“We also passed the revised structure if the Ministry to confirm with the new sustainable environmental development internationally. We also approved a new log for the Ministry and this is very good,” he said.