Tibaijuka in support of home-improvement loans
Tue Sep 30, 2014
The best way to improve human life is by first upgrading their residence or homes, the phrase is part of a speech delivered by the Minister of Lands, Housing and Human Settlements Development, Prof Ana Tibaijuka is her short address to residents of Manzese Mvuleni, an impoverished Dar es Salaam suburb.
'When you live in a better environment, then even your health will improve… your children will grow up and study,” Prof Tibaijuka told the residents.
She was speaking over the weekend at a short handover ceremony where Tanzania Financial Services for Underserved Settlement (TAFSUS), a national institution provides financial services to underserved communities, was receiving a 100m/- cheque from Azania Bank.
The handover marks the start of the third phase of TAFSUS’ home improvement initiative for impoverished communities that now enters its third year.
“This home improvement project has proved to be a success story and has helped improve the lives of many of our city residents,” she remarked.
'This is among efforts that the Ministry of Lands…to see improved housing across the country…I am pleased to preside over the launch of the third phase of this project,” the minister said.
On his part, Acting Chairman to TAFSUS Board of Directors John Ulanga explained that the home improvement project entails issuance of soft loans to communities that would otherwise not be in a position to secure them.
'The primary goal of TAFSUS is to encourage and facilitate financial institutions to provide loans specifically for housing upgrade in areas that are underserved,” he detailed.
“These loans are provided to improve the housing conditions of poor communities including those built in un-planned areas as a way of empowering low-income communities to have a better life,' he said.
He explained that the projection is working to reach 2000 households with USD 3.58 million by the end of 2015 through soft loans ranging from 1.5 million to 9 million per household.
In this third phase, he said, TAFSUS is working with Azania Bank and also received up to USD 1.2m from UN-Habitat to facilitate the project.
“We have allocated loans worth 250m/- for Mvuleni houses,” said the TAFSUS Board Chairman.
The Manzese Mvuleni ward is estimated to have some 2,180 households and an estimated population of of 10,645 residents.
'TAFSUS will ensure that these loan services reach more people…we are designing many other projects that will help upgrade our City and other cities across Tanzania…the improvement will contribute to improving the lives of Tanzanians, especially the low-income earners,' Chairman Ulanga summed up.
Azania Bank Finance Director Rukwaro Senkoro said the bank is in support of community development initiative and pledged continued support.
“Extending the funding for low interest loans is part of our way of ensuring that the communities that surround us and that we are a part of, are catered for and enjoyed improved living standards…we will continue to offer our financial support to ensure the success of the project,” he pledged.
SOURCE: IPPMEDIA
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