$5M soft loan for displaced and low cost housing signed
By: L.N. Reklai
July 25, 2016 (Koror) $5 million dollars of low interest housing loan funds for displaced families, affordable housing and low income families, was implemented yesterday through a Subsidiary Loan Agreement signed by Palau national government and Palau Housing Authority.
The loan was acquired by the national government from Mega International Commercial Bank and will be administered by Palau Housing Authority. The interest rate is up to 5% with terms of 25 years.