NHDA loan recovery rate increases
Nethali STRUYS
The recovery rate of housing loans granted to the public by the
National Housing Development Authority (NHDA) has increased from 62
percent to almost 100 percent due to the public repaying the housing
loans, states a Construction, Engineering Services, Housing and Common
Amenities Ministry spokesman.
"The recovery rate of loans which was 62 percent in January 2011,
increased upto 101 percent in July 2011," the ministry spokesman said.
"The recovery rate of loans was very low in the past making it very
difficult for the NHDA to provide loans," he said.
Construction, Engineering Services, Housing and Common Amenities
Minister Wimal Weerawansa visited the 27 NHDA district offices and
advised officials on loan recovery strategies,' the spokesman said.
Twenty two out of the 27 district offices have already recovered
loans beyond the expected target. The recovery rate in the Matara
district is 147 percent, Colombo North 142 percent and Kalutara district
136 percent.
The loan recovery rate in the Northern Province is high with the
Kilinochchi district recording a recovery rate of 108 percent. |