KUALA LUMPUR, Jan 26 (Bernama) -- The Federal Territories and Urban Well-being Ministry will launch the Federal Territory Foundation in March to help tenants of the People's Public Housing Project (PPR) and Public Housing Project (PPA) buy their own homes in the capital.
Its minister, Datuk Raja Nong Chik Raja Zainal Abidin said the foundation, a collaboration between the ministry and the Employees Provident Fund (EPF), would provide a loan up to RM35,000 to applicants.
"The foundation will assist PPR and PPA tenants, particularly DBKL Public Housing tenants to purchase a more comfortable home.
"We know that sometimes banks are reluctant to give out loans due to factors like affordability to service the loan, applicant's age or blacklisted name," he told Bernama after giving an interview in the "Ala-Carte Pagi" programme on Bernama Radio24 here Thursday.
The foundation will offer flexible terms and conditions on the loan, he said, adding that borrowers must pay back the loan for it would be funded by EPF's contributions.
On the Kampung Baru Corporation, which will be set up in April, he said the ministry had identified a potential area in Kampung Baru to be developed as a pilot project besides working hand in hand with landowners who wanted their land to be developed.
With the Kampung Baru Development Corporation Act approved in Parliament on Oct 5 last year, he said an interim team had been set up to propose the corporation's structure, board members and council advisers.
Raja Nong Chik shrugged off a misconception that the redevelopment of Kampung Baru in the Greater KL development project would eliminate the historical, cultural and religious values of Kampung Baru.
"Besides Greater KL, other projects that will benefit residents earmarked for Kuala Lumpur are the River of Life and I Greened KL for the rivers will be turned into recreational areas, the level of cleanliness will be much better and the city will be greener with 30,000 trees planted yearly," he added.-BERNAMA
