Paramaribo, Suriname, 5 February 2024 -  The second phase of the Affordable Housing Project in Suriname, a joint collaboration effort by the Islamic Development Bank (IsDB) and the Government of Suriname is now operational.

This came after introducing the Affordable Housing Project (AHP) in Nickerie on 17 December  2023, the second launch took place in Paramaribo on January 26, 2024.

This aligns with the objectives of the US$35 million project financed by IsDB in cooperation with the Surinamese government.

The first launch was in Nickerie with 104 beneficiaries. The second launch extended beyond Paramaribo to include beneficiaries from Commewijne and Saramacca, totaling 122 beneficiaries.

The project's current progress suggests that the goals are on track, aiming to assist 3,775 beneficiaries with their housing needs.

During these occasions, 326 individuals received certificates, fiscal evidence of their journey toward homeownership.

Suriname President, H.E. Chandrikapersad Santokhi, expressed heartfelt conviction, acknowledging the happiness of those embarking on their homeownership journey. He stated: "Today signifies new life for AHP, constructing dreams and aspirations for Suriname." The President, in his address, underscored the inclusivity of AHP, stating, "This initiative is for all Surinamese citizens in every district, regardless of background." He further outlined the project's commitment to a sustainable resolution of the housing crisis, emphasizing the provision of land to individuals aged 21 and above through a streamlined online registration process.

With a substantial loan of US$35,000,000 secured by the Surinamese government from the IsDB, the contractual agreement for this project was signed in 2017 by the Minister of Finance and the IsDB representative. The initiative is a determined response to Suriname's pressing housing shortage, pledging a total of 3,775 housing solutions. Designed to elevate housing standards for lower-income groups across Suriname, the project offers various housing solutions, including new constructions, renovations, and expansions. Subsidies ranging from US$3,500 to US$9,000 are associated with these housing types, providing aspiring homeowners with a range of options.

Dr. Sobir Komilov – Manager, IsDB Regional Hub Suriname underscored the importance of collaborative efforts and the shared commitment to addressing one of the most fundamental needs in affordable housing. As the country is celebrating the launch of implementation, he acknowledged the long-term vision embedded in the project – a vision that prioritizes not only the present but also future generations.

Dr. Ilker Ersegun Kayhan – Operations Team Leader Regional Hub Suriname, emphasized once again  that “The full focus should be on quick implementation as per the existing design & scope to achieve quick results.”