City discounts more loans to Community Service Organisations

The City of Cape Town recently received approval to discount its welfare loans to five more Community Service Organisations. The City submitted a number of applications to the Provincial Government in terms of the provisions of the Housing Act and these five approvals follow the four that the City received in October 2011.

“The City of Cape Town applied to have these historic loans discounted to enable us to provide support to the crucial work that many of these organisations do in assisting our most vulnerable communities including the youth and elderly persons. These organisations will consequently receive a reduction on their financial burden, allowing them to increase their important community work and thereby improving and expanding on the services provided to our communities. The loans were granted many years ago for capital projects undertaken by these organisations in their various areas of work around the city,” says the City’s Mayoral Committee Member for Human Settlements, Councillor Ernest Sonnenberg.

The City will finalise loan discounts, to the value of approximately R1,2 million, with the following organisations:

The Association for the Physically Disabled in Athlone

The Catholic Welfare Bureau in Green Point

NICRO in Mitchells Plain

CAFDA in Retreat

Leliebloem Child and Youth Care Centre in Athlone

In October 2011, the City offered discounts, to the value of approximately R1,8 million, on loans made to the following organisations: the Kensington Home for the Aged; the Cape Peninsula Welfare Organisation for the Aged; the Bureau for Muslim Family Care (Beit Ul Aman) Old Age Home in Wynberg; and the ACVV Soeterus Old Age Home in the Strand.

Article source: http://www.capetown.gov.za/en/Pages/CitydiscmoreloanstoCommServOrg.aspx