The Housing Ministry (MIVI) attempts to combat housing deficit in the country with the approval of this $8 million loan by the Economic National Housing.
Frank De Lima, economy vice minister, told newspaper La Estrella: "The idea is for this grant to be used to cover down payment of the homes. We are talking about families that don't have access to banking credit because of their low incomes".
$70 million loan to finance subsidies for low income households.
El Salvador will improve housing conditions for low- and middle-income families and boost the housing sector’s ability to efficiently and equitably meet demand with a $70 million loan approved by the Inter-American Development Bank (IDB).
The government has signed an agreement with the developer Inter-Mac for the construction of 35 residential projects.
Inter-Mac director, Javier Arguello, highlighted the importance of the project for the Honduran economy, calling it 'encouraging'.
Lobo Sosa, president of Honduras, was present at the signing of the agreement and "thanked national and internation investors, as well as the US government, for continuing to believe in the country. 'Our people need homes and we must provide them,' he said and asked all regional mayors to open their doors and facilitate this kind of investment," reports Laprensa.hn.