Parkop signs agreement for affordable housing

NATIONAL Capital District Governor Powes Parkop has signed a landmark deal with the International Finance Corporation to provide affordable, green and climate-resilient housing in Port Moresby.
It is a model for large-scale affordable housing for low and middle-income families in Port Moresby to help ease the growth of squatter settlements.
Parkop is attending the Pacific Urban Forum in Fiji focusing on the challenges of urbanisation in Pacific island nations.
“High prices and a severe lack of affordable housing are preventing many Port Moresby residents from moving out of informal settlements and buying their own homes,” he said.
“Through this pilot project, the International Finance Corporation will help us open up the market for green, climate-resilient affordable housing by drawing on the resources and expertise of the private sector.
“The project will target low-income and middle-income earners through single unit family dwellings and affordable flats.
“We need to encourage greater housing density in a way that is culturally appropriate, and with adequate amenities for people.
The pilot project will complement other measures that we are now undertaking to tackle Port Moresby’s housing crisis.” According to government statistics, more than 45 per cent of the 370,000 residents of Port Moresby live in informal settlements without security of title or access to basic infrastructure such as water, sanitation and power.