Parliament

PM backs $150m Housing Authority guarantee

July 12, 2024 12:42 pm

Prime Minister Sitiveni Rabuka says that for every leader, there was a struggle.

The Prime Minister highlighted this while contributing to the motion on the renewal of the Government guarantee of $150 million for the Housing Authority’s borrowings for another five years and that the Housing Authority pay a guarantee fee of 0.5 percent on the cumulative utilized guarantee credit.

Rabuka shared that he is particularly interested in this motion as he is a beneficiary of the Housing Authority.

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Prime Minister Sitiveni Rabuka [Source: Parliament of Fiji/ Facebook]

He mentioned that he was brought up in an informal settlement, which then became Housing Authority flats.

The Prime Minister highlighted that many people assume individuals in high positions simply parachuted into those roles, but he emphasized that it did not happen that way.

“We all had to struggle through housing, education, and informal settlements to be here. And we would like to encourage those watching us that there is hope. There is hope. For every leader, there was a struggle. And as the old saying goes, every saint had a past. We’re not all clean.”

Rabuka stated that part of the government’s commitment to the Sustainable Development Goals is to ensure access for all to adequate, safe, and affordable housing, basic services, and the upgrading of slums.

He stressed the importance of integrating housing frameworks, supporting economic, social, and environmental policy planning, and infrastructure linkages across the urban-rural ecosystem.

The Prime Minister also acknowledged the traditional landowners who will have to consider giving up or contributing their land to continue housing provision for people moving from the islands to the main centers.

He explained that through the government guarantee to the Housing Authority, instruments such as bonds offered to investors become more effective as risks are reduced.

Rabuka stated that funds raised by the authority will be used to acquire new land, carry out land development projects for fully serviced lots, and provide cash loans to customers for new house construction and the purchase of new houses.

The Prime Minister assured his support for the motion.