Minister for Economy Aiyaz Sayed-Khaiyum [3rd from left] during the opening of the World Bank office in Suva today. [Source: Fijian Government]

A landmark agreement has been signed by the Government and the International Finance Corporation to provide low affordable housing for all Fijians.

The deal is expected to eventuate by next year and is also aimed at providing climate resilient homes.

While signing an MOU with the IFC today, Minister for Economy Aiyaz Sayed-Khaiyum says it’s a struggle to find housing in Fiji as land and home prices continue to rise.

“There are many people for example who relatively have good jobs but they don’t live on a secured title land and that is of course very critical if we don’t address it, then it becomes a big problem.”

With this being an issue, the government has partnered with the IFC to assist low and middle-income families.

As a member of the World Bank Group, IFC Director Vivek Pathak says they will work to design the right public-private partnership model to deliver affordable housing.

“So one other thing that we are hoping to achieve here is what I would say some breed of disaster and resilient affordable housing and how is it affordable to the people.”

Sayed-Khaiyum says the government is steadily realizing its vision of providing a new range of affordable, high-quality housing options for Fijian families in ways that make sense in our rapidly modernizing economy.