New bank to be established to meet housing needs

z_p-08-norochcholai05The Government is to establish a new bank to meet the housing needs of the country, Prime Minister Ranil Wickremesinghe said today.

He said that three banks will be merged to form the new housing bank to give housing loans at concessionary rates to the public.

The Prime Minister, speaking at the United National Party (UNP) 70th anniversary event in Colombo, said that the proposed housing bank will help ensure the housing needs of the public around the country is met.

He said that the Finance Ministry is working with the Ministry of Housing to build new houses around the country.

Wickremesinghe said the Government hopes to address the housing needs of the North and East as well as the estate sector and other parts of the country. (Colombo Gazette)