Eight commercial banks
have set aside Sh338 billion to support construction of houses through
President Uhuru Kenyatta Agenda Four Programme.
Housing and
Development Principal Secretary Charles Hinga said the amount from the bank
will be challenged to facilitate the housing
programme.
Without naming the
banks that will fund the low cost houses, Hinga said, individuals who will show
interest in the programme will be referred to them.
“The banks will
provide the money for new mortgages which will facilitate the construction of
new affordable houses,” Hinga said adding that the project has received a lot of
support from Kenyans.
He disclosed that some of the houses that have
been completed in Nairobi will soon be allocated to people for occupation.
Another 15,000 houses are being built in
Mukuru area in Nairobi designed to reduce cost of renting.
A good move by the government to provide affordable houses