Government allocates Rp300 bln for subsidized housing ownership credits

Denpasar, Bali (ANTARA News) - Public Housing Affairs Minister M Yusuf Asyari said the government had allocated funds amounting to Rp300 billion in 2007 for subsidized housing ownership credits.

"The allocated funds were fully used up by late September 2007," the minister said when officially opening a workshop on the role of regional banks in development of public housing here on Wednesday.

The government`s subsidies were expected to be increased to Rp800 billion for public housing credits, low-cost housing and self-financed housing development.

The minister said the government was planning to build 1.3 million subsidized low-cost houses and upgrade the quality of 3.6 million self-financed houses.