Brazilian President Lula da Silva reinstates largest housing programme in the country

The Brazilian public housing programme Minha Casa, Minha Vida ("My House, My Life") is one of the government's main initiatives to promote social inclusion and expand the access to basic housing to more people, helping to mitigate the country's deficit.

Brazilian President Luiz Inacio Lula da Silva took part in the opening ceremony to start handing over 1,000 houses as the ultimate goal of the initiative. This is reported by Prensa Latina, a partner of TV BRICS.

The invested sum in the project rounds up to R$94,1 million, around US$ 16,5 billion, with the Residential Lease Fund of the Latin-American country and the state government acting as the main investors.

Thanks to the new programme, around four thousand people will receive housing with an average area of 47.39 m² on the first floor and 46.43 m² on the upper floor, according to a statement from the Brazilian government.

"Every time I deliver a new house under 'Minha Casa, Minha Vida', I thank God for life and for allowing me to make these offers, because I know what a joy it is to receive a little house to live in, a safe haven to look after your family"

Luiz Inacio Lula da Silva President of Brazil

This is the largest housing programme in Brazil, created by the government of President Luiz Inacio Lula da Silva in March 2009, and it offers subsidies and loans at below-market interest rates. The initiative has made it easier for many Brazilians to buy homes, both in urban and rural areas.

Photo: iStock