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February 22, 2006

Residents on sister isle St. Kitts are now in a better position to become home owners.

Over 200 civil servants have received loans totaling over EC$22.8 million to build their own homes under the Civil Service Home Mortgage Scheme.

This was disclosed by St. Kitts and Nevis Prime Minister, Hon. Dr. Denzil Douglas.

Prime Minister Douglas, who is also Minister of Finance, said of the EC$28,633,209 set aside for the Scheme, close to EC$22.million has been disbursed to 204 applicants.

He said 23 loans totaling over EC$ 2.7 are still to be disbursed and 19 loans of over EC$3 million have been repaid.

Dr. Douglas said the Development Bank of St. Kitts and Nevis has informed him that a number of loans have already been approved but are awaiting distribution of land in order to facilitate the release of the funds.

He said the Department of Lands in the Ministry of Finance and Sustainable Development is now pursuing the allocation of land.

Recipients of loans under the Civil Service Home Mortgage Scheme include crossings guards, teachers, clerks, lecturers as well as non establishment workers in the area of public health.

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