PM Holness to Divest the Jamaica Mortgage Bank

PM Holness to Divest the Jamaica Mortgage Bank

Roger Pettingell Sarasota Real Estate

Prime Minister Andrew Holness has signalled intentions to divest the Jamaica Mortgage Bank as he shifts the National Housing Trust toward low-income and affordable housing.

He was speaking at the opening of the Genesis 28 housing development in St. Andrew.

The Prime Minister says the Mortgage Bank is well suited to take on the challenge of providing middle-income housing through the private sector.


The Prime Minister says the Government will move the National Housing Trust toward providing low-income and affordable housing.

However, he says this will leave a gap to be filled at the middle-income bracket that the Private Sector will need to step in.

The Prime Minister says the Mortgage Bank will be divested through the Jamaica Stock Exchange.

He says the funds raised through this venture will be used to further build out low-income housing.

The Prime Minister says through this divestment the Mortgage Bank will be better placed to serve a wider customer base as a private venture.

The Prime Minister says the focus of government must be on providing low-income and affordable housing which has been under-served for too long.


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