The Government will pursue a Public Private Partnership for affordable housing.
Prime Minister Sitiveni Rabuka confirmed this in a press conference today following the fourth cabinet meeting yesterday.
Subsequently, a Financial Advisory Services Agreement (FAS Agreement) has been signed with the International Finance Corporation (IFC) to engage IFC as the lead advisor for the project.
Rabuka said six sites have been selected for the PPP Project.
“Four sites are from the Central Division and two from the Western Division. The sites are in Raiwaqa, Nepani, Wainibuku, Davuilevu, Tavukubu and Tavua.”
He said the intention is to develop affordable housing units (AHUs) on the selected sites with private sector participation or on a PPP model, where a private developer shall design, build, finance, transfer and maintain AHUs.
Rabuka added that the Ministry of Finance will closely monitor the project progress and provide regular updates to the ministries of Housing and Local Government.