Prime Minister Datuk Seri Ismail Sabri Yaakob today announced an allocation of almost RM65 million for the implementation of five initiatives to help the Federal Land Development Authority (Felda) settlers and its new generation in various aspects, including housing.
The initiatives include a fund of RM20 million under the Housing Credit Guarantee Scheme as the collateral for housing loans to be made by the new generation of Felda settlers so that they need not have to offer other collateral for a loan, thus facilitating the financing process for house construction in Felda generation lots.
Ismail Sabri said Felda had also allocated a revolving fund of RM10 million to provide more opportunities to start a business or increase the capacity of the business to entrepreneurs among the younger generation of Felda, involving interest-free loans of between RM5,000 to RM20,000 with applications to open in August.
“In a bid to provide necessary facilities for the new generation of Felda to reside in its areas, Felda has previously implemented the Felda New Generation Project (PGBF). I would like to announce that the RM7.6 million in monthly rent already paid by 2,025 PGBF occupants, as well as rent to be collected after this, to be counted as their deposit when they buy a PGBF house.
“This means, if the total rent paid for 36 months is RM10,800, then the price they have to pay for a middle unit worth RM90,000 will be reduced to only RM79,200,” he said when officiating the Felda Settlers’ Day 2022 celebration at Felda Rentam today.