Panama
Council Approves Low Income Housing Funding
Story by La Prensa
The National Economic Council approved $17.8 million in spending Thursday, most of which will be used for low-income housing.
Deputy Minister of Economy and Finance Frank De Lima said the funds will be used to start a "supportive housing program" to allow low-income families to receive bank loans.
The government will contribute up to $5,000 for a down payment on a home that costs less than $30,000. Households making less than $850 a month are eligible for the assistance.
The plan eventually hopes to assist 1,600 families.
De Lima said another program approved by the council is work on roads, schools and health centers in rural areas, particularly in the Darién.
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