National Bank plans ‘Belize Housing Project’ to develop ten thousand middle-income homes in the next five years

Published by BBNTEAM at May 7, 2023

Tags

Posted: Sunday, May 7, 2023. 5:42 pm CST.

By Aaron Humes: While the details are still being worked out, the National Bank of Belize Limited has given initial details of the most defining project of its short history, known as the “Belize Housing Project.”

The Bank has officially told Amandala Press that it cannot share as yet any official details as the planning continues, but once that is complete the Bank will be ready to make an announcement.

However, some details have been leaked. The project’s partners are JMCC Enterprises Limited and Panamanian company MCC Capital/Tag Corporation. Last week, a representative of JMCC and the Bank are confirmed to have signed a memorandum of understanding for a strategic plan for the execution of the project, expected to include a formal business account to receive the funds and plans for issuing mortgages to middle-income Belizeans and controlling the flow of monthly interest payments to be collected by the project’s benefactors.

The Bank plans to develop less stringent qualification requirements for participants from the middle and lower income bans to meet; incumbent area representatives will also be involved and asked to identify suitable applicants.

The Government has built more than 250 “starter” homes in several districts for first-time land owners since it took office and plans to build more. It recently negotiated a loan with the Social Security Board on behalf of the Development Finance Corporation (DFC) for middle-income housing similar to the National Bank’s plans. It has made it a cornerstone of #planbelize to create housing for 10,000 Belizean families during this term of office.

Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Belize ~ We offer fully customizable and flexible digital marketing packages. Your content is delivered instantly to thousands of users in Belize and abroad! Contact us at mаrkеtіng@brеаkіngbеlіzеnеwѕ.соm or call us at 501-612-0315.