The Housing Project

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Loan No.:	334	Interest Rate:	4.5%
Beneficiary:	Housing Bank	Grace Period:	4 years
Project Cost:	KD 19.7 million	Maturity:	22 years
Amount of Loan:	KD 15.O million	Repayment:	37 semi -annual installments
Date of Loan Agreement:	03/03/1997	First Installment:	4years following the first disbursement
Date of Effectiveness:	21/04/1997

 

 Objectives:

The project aims at providing decent houses for Bahraini people, as part of the Bahraini housing plan executed by the Ministry of Housing, Municipalities and the Environment (the Ministry) and the Housing Bank (the Bank).

 

Description:

The project consists of the following components:

1 - Housing Units:

This includes the construction of about 430 adjacent houses and apartment buildings with an area of 170-190 m² per house, and 90-110 m² per apartment.

2 - Land Preparation & Services:

This includes preparing the sites and providing them with the necessary services, such as roads, electricity, water and others.

3 - Housing Loans:

This includes providing loans to the beneficiaries for the following purposes:

a. Building new houses,

b. Buying readily available houses.

c. Expansion and rehabilitation of existing houses.

 

4 - Institutional Support:

This includes consulting services, acquiring software, computers and office equipment, and training for both Ministry and Bank staff.

 

Financing:

The Arab Fund loan represents about 76% of the total project cost. The Bahraini government will cover the remaining costs.

 

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