Some property owners rebuilding from the September hurricanes will be eligible for subsidised loans under an agreement that the government signed Friday with the National Bank of the Virgin Islands.
The agreement “facilitates funds being deposited with the bank and the disbursement to beneficiaries” approved by the Ministry of Health and Social Development, which leads the Housing Recovery Assistance Programme, according to Government Information Services.
The signing ceremony was closed to the press, but a GIS press release reported that Health and Social Development Minister Ronnie Skelton said that the programme is designed to help property owners who are most in need.
Under the terms of agreement, property owners who apply to the Housing Recovery Assistance Programme will be assessed for subsidised loans, according to GIS.
“Partial or full grants will be considered based on financial need to meet basic building repairs or restoration,” the press release stated.
Also at the ceremony, Second District Representative Mitch Turnbull stated that the MOA is a step in the right direction, and NBVI Board Chairman Clarence Faulkner said the bank is prepared to continue administering the programme to ensure that it meets the stated objectives.
NBVI CEO Joy Francis added, “Having experienced the devastation caused by Hurricane Irma first-hand, we understand the importance of housing restoration. As the territory’s only indigenous bank, we are proud to play an integral role in the rebuilding process.”
According to GIS, the Housing Recovery Assistance Programme functions in accordance with the Housing Recovery Policy and the Hurricane Irma Recovery Plan 2017 to 2019.
Property owners can apply for assistance under the programme by visiting the former Peebles Hospital Annex at the Housing Recovery Unit from 8:30 a.m. to 4:30 p.m. Monday through Friday; the Social Development Department across from the Red Cross Building in Road Town; or the district offices on the sister islands.
Applications with the listed requirements also can be accessed online at www.bvi.gov.vg.
Call 852-7746 or 852-7782 for inquiries.