January 31st, 2017 — The St. Christopher and Nevis Social Security Board has taken the first step in the implementation of a ten million dollar (EC$10 M) loan facility in support of the Nevis Housing and Land Development Corporation. In a ceremony held at the Social Security Conference Room at its new office complex situated at Pinney’s Estate, the signing of the loan agreement and the disbursement of the first cheque of EC$1.6 Million were concluded on Tuesday 24th January 2017.
The entire loan is in support of the procurement of equipment to be used at the New River Quarry and for construction of over 50 affordable homes on Nevis. The first housing project will consist of 32 units at Madden’s Estate. This first cheque is earmarked for the repayment to the Nevis Island Administration for the recent acquisition of equipment to be used at the Nevis Island Administration-owned quarry. The remaining funds will be disbursed in tranches in keeping with the phased completion of the housing projects over a period of time.
The short ceremonial exercise was attended by officials of the two principal bodies involved. Minister responsible for Housing and Lands on Nevis and Chairman of the Nevis Housing and Land Development Corporation Board of Directors Hon. Alexis Jeffers, General Manager of the Nevis Housing and Land Development Corporation Mr. Dexter Boncamper and Legal Counsel in the Nevis Island Administration Ms. Rhonda Nisbett-Browne represented the NHLDC.