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Sisulu: New bank will transform state housing sector

Human Settlements Minister Lindiwe Sisulu says the new bank she'll be launching on Friday will provide access to funding for major housing projects.

FILE: Human Settlements Minister Lindiwe Sisulu. Picture: GCIS

JOHANNESBURG – Human Settlements Minister Lindiwe Sisulu says the new bank she'll be launching on Friday will provide access to funding for major housing projects as well as those who earn too little to qualify for a mortgage but who don’t qualify for a subsidised home.

The Human Settlements Development Bank brings together the Rural Housing Loan Fund, the National Housing Finance Corporation and the National Urban Reconstruction and Housing Agency.

Sisulu made the announcement in her budget vote speech in Parliament on Thursday.

“Supporting transformation in the housing sector is a key focus and this will be enabled the provision of equity finance especially for emerging black professionals.”

She says the bank will help transform the state housing sector.

“The strategic focus of the bank will be to facilitate the increase provision in finance across the human settlements department.”

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