Gov't Assures Real Estate Agents, Banks Of Support

Accra (GAR), June 24, - Mr Isaac K. Adjei-Mensah, Minister of Works and Housing, today assured banks that government will initiate schemes that will enable them to provide the needed support for the housing industry. Addressing representatives of banks, non-bank financial institutions and real estate developers in Accra, Mr Adjei-Mensah said this is necessary if the high demand for housing is to be met. The meeting is being attended by the Governor of the Bank of Ghana, Dr G.K. Agama, representatives of 17 banks and non-bank financial institutions and members of the Ghana Real Estate Developers Association (GREDA). It will discuss a scheme to raise the 67.95 billion cedis GREDA needs to finance its medium term housing project under which it will provide 6,000 housing units at Dunkonaa on the Accra-Winneba road within three years. ''How can each bank or the banks together provide the level of funding required by GREDA to quickly implement the massive housing projects designed for the medium term, that is from 1997-2000?'' he asked. He said his Ministry and Ministry of Finance as well as the Bank of Ghana will do all they can to address the concerns of banks to facilitate their involvement in the scheme.