The Vanuatu National Provident Fund (VNPF) is trialing an housing scheme for its members in Santo.
Director General (DG) of the Ministry of Finance and Economic Management (MoFEM), Letlet August, as Interim Chairman of the VNPF Board informed the new Minister of Finance Johnny Koanapo on his visit to VNPF.
He said VNPF is partnering with the National Bank of Vanuatu (NBV) to trial the housing scheme at the VNPF owned plot at Banban Area.
He assured VNPF is very cautious in realizing the initiative taking into consideration NBV’s commercial terms and VNPF’s desire of helping members.
“We want this to be affordable to the members,” he added.
As part of the initiative, VNPF provides land to build the house on and NBV offers housing concept.
Minister Koanapo said he knows following discussions with the Chief Executive Officer (CEO) of NBV that the bank has a good housing program which takes into account the situation of the country where natural disasters like cyclone occur all year round.
While he stressed that government’s housing programs are weak, the new Finance Minister said he hopes that VNPF’s collaboration with NBV will assist the government to strengthen policy settings to enable a conducive environment for VNPF to continue the housing scheme to help members.