The Housing Authority is hopeful that the $70 million soft loan from the Chinese Government comes through.
Chief Executive Alipate Naiorosui said despite receiving word from the Fiji Government that it will guarantee the loan taken from local lending institutions Naiorosui said the interest rates nowadays are too high.
Naiorosui also said the last option would be to increase the rent for their customers if they do turn to the local lending institutions.
The Housing Authority along with the Public Rental Board had asked for a loan to re-develop lots around the country and were informed last month that the EXIM Bank were now consulting with the Chinese Government and a decision is expected in the next few days.
HA hopeful $70M comes through
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