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Tuesday, 4 January, 2005

India: National Housing Bank scheme for tsunami victims

From: The Hindu

NEW DELHI, DEC. 31. The National Housing Bank (NHB) has announced a concessional scheme to provide financial assistance to the people affected by tsunami. The scheme is applicable for construction, repairs and renovation of houses and housing-related infrastructure.

According to the NHB chairman and managing director, P.K. Gupta, assistance will be provided through refinance and direct finance routes. A sum of Rs. 1 billion has been earmarked for the purpose. The assistance will be by way of refinance to banks and Housing Finance Companies (HFCs) against loans provided to individual borrowers affected by the tidal waves. Project assistance will also be extended to public agencies such as housing boards, development authorities, municipal corporations.

See the rest here at The Hindu
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