KUALA LUMPUR, July 19 (Bernama) — A special fund will be set up to help those are unable to afford National Economic Action Council and Kuala Lumpur City Hall (DBKL) housing units.

Federal Territories and Urban Wellbeing Minister Datuk Raja Nong Chik Raja Zainal Abidin said selected banks would back the fund so that loans could be made available this category of buyers.

This was an initiative of the ministry to help them expedite purchase of these housing units, he told a press conference here Monday.

Towards this end, he said a carnival would be held soon to facilitate the buyers and purchasers for the housing sale transactions.

Raja Nong Chik said a total of 11,499 of 18,201 eligible buyers had given their commitment to buy such housing units.

Of the number, 1,928 had signed the sale and purchase agreement with 1,080 opting to pay cash and the rest going for loans, he said.

He said for those without fixed income, the Credit Guarantee Corporation was willing to act as a guarantor for their housing loans.

On suggestions to allow hire-purchase of the units, Raja Nong Chik it was not feasible in terms of financing and administration.

– BERNAMA