The government of Guyana recently rolled out its steel and cement subsidy program which is expected to benefit 58 residents from various communities in Essequibo.
This initiative aims to assist first-time homebuilders in realizing their dream homes by providing essential building materials.
Under the subsidy program, individuals constructing homes valued at $6 million or below receive one sling each of cement and steel, while those building homes valued between $6 million and $25 million receive two slings of cement.
This support is seen as crucial in alleviating some of the financial burdens associated with construction costs.
During the event, several beneficiaries expressed their gratitude and shared their plans for utilizing the subsidy to complete their homes.
Yonette Hicks, a recipient, highlighted her anticipation since receiving her plot of land last year and expressed happiness at finally accessing the subsidy.
Rohit Bisnauth emphasized how the subsidy would help him complete his home, mentioning specific needs like water trestles and finishing touches.
Indrawattie Chattergoon shared a personal story of how the subsidy came at a critical time for her, enabling her to move forward with her housing plans.
Minister of Housing and Water, Collin Croal, underscored the economic impact of the program, noting that $14 million would be injected into the local economy through this distribution of subsidies alone.
He further elaborated that the government had disbursed over $319 million under the steel and cement subsidy program, emphasizing its significant contribution to both the construction sector and the broader economy.
Minister Croal also highlighted ongoing investments in Region 2, including initiatives to resolve land ownership issues, and improvements in water distribution systems, reflecting broader efforts to enhance housing and infrastructure development across Guyana.
This subsidy program not only supports individual homebuilders but also contributes to local economic growth and development, underscoring the government’s commitment to improving living conditions and infrastructure nationwide.