Government to introduce ‘National Rental Assistance Scheme’

The Leader of Government Business in Parliament and Majority Leader, Osei Kyei-Mensah-Bonsu says the government of Ghana is set to introduce a National Rental Assistance Scheme (NRAS) in the country.

The National Rental Assistance Scheme will provide low-interest loans to eligible Ghanaians to enable them pay rent advance.

The introduction of the scheme forms part of government’s new initiatives and additional reforms across several sectors of the economy in order to enhance further the quality of life of Ghanaians, to support domestic entrepreneurs and businesses, and to deepen access to public services.

Reading the 2021 Budget statement and Economic Policy in Parliament on Friday, the Majority Leader said government will commence the establishment the scheme with a seed of GH¢100 million.

“In partnership with the private sector, we will commence the establishment of a National Rental Assistance Scheme (NRAS), with a seed of GH¢100 million. The scheme will crowd-in additional investment from the private sector, to provide low-interest loans to eligible Ghanaians to enable them pay rent advance,” he said.

He also said in 2021, Government will formulate a national equipment leasing policy to cover medical equipment, vehicles, photocopiers, printers, and scanners among others as part of the measures to more efficiently manage our capital expenditure budget.

“We will also commence work towards the implementation of a long term Lease-To-Own financing arrangement for commercial vehicle owners and operators who need to replace aged and un-roadworthy commercial vehicles,” he added.

Osei Kyei-Mensah-Bonsu again said, "We will also commence the planning towards the implementation of the Enhanced Student Loan Scheme to provide students, with the exception of teacher and nurse trainees, an option to obtain a student loan without the requirement of a guarantor.”

Meanwhile, he said the prospective student must have a National Identification Number from the Ghana Card.