Following the revamping of a road project, US$10 million (G$2 billion) from an Inter-American Development Bank (IDB) loan will go towards housing subsidies in Sophia, Cummings Lodge and nearby areas.
The project profile of the reformulated IDB project disclosed that US$30 million in total will be allocated to housing. The remainder of the US$66.5 million loan will go its originally intended target, the Sheriff Street to Mandela Avenue thoroughfare and associated infrastructure.
According to the IDB document, the reformulation of the huge loan came following a May 2nd, 2017 request by the Minister of Finance Winston Jordan. This request came virtually two years after the APNU+AFC government entered office. Originally, a much larger Sheriff St- Mandela Avenue project had been envisaged going all the way back to 2012 under the former PPP/C government.
