Georgetown: Minister within the Ministry of Communities, Keith Scott, yesterday held a successful meeting with the Managing Director of Republic Bank, Richard Sammy and General Manager (Credit), Patricia Plummer. The discussion saw the two sides agreeing on areas of cooperation.
Minister Scott, who has responsibility for housing, told the Government Information Agency (GINA) that the team raised concerns regarding the issuances of title documents and letters of assurance. He explained that the government inherited a backlog of applications for land titles and transport. However, the land registry has promised to speed up the process, so persons can expected to receive their mortgages faster.
According to Scott, the bank is prepared to increase its supporting role with the Central Housing and Planning Authority (CHPA), and promised to partner with the Ministry to expand the government’s vision of creating cohesive communities. “We had discussion on building of houses for teachers and nurses in each region and the bank will cooperate with the Ministry in making this a reality as soon as the Ministry is off the ground with this initiative,” he explained.
Scott further said that the bank has an internal volunteer section where it will be working along with the Ministry to construct play grounds and other recreational facilities, to make a difference in the lives of youths and disadvantaged persons.
In addition, the minister said that apart from building houses for young professionals, the Ministry has asked the bank to re-examine interest rates, with a view of reducing these where possible.
Minister Scott noted that the Ministry is open to partnering with all banks to push the housing sector.
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