The anti-crisis plan calls for the construction of 25,000 homes by means of the National Fund for Popular Homes (FONAVIPO, acronym in Spanish).

Mario Rivera, president of the Salvadorian Chamber of Construction, informed Laprensagrafica.com: “We are hoping that president (Mauricio) Funes approves the proposal for the construction of 13,000 homes funded by FONAVIPO, currently in the ant-crisis plan. He mentioned that there will be 2,000 homes built first. Also, we are hoping to move forward with the construction of 5,000 homes financed through private banks.”

Source: laprensagrafica.com

More on this topic

Housing Industry Wants to Consolidate Recovery

January 2012

In 2011, house sales in El Salvador grew by 4%, and the industry is planning new campaigns to encourage home ownership.

Strengthening the housing market is a key item for the construction industry to consolidate the economic recovery of 4% recorded in 2011, noted the Salvadoran Chamber of Construction (CASALCO).

El Salvador: Housing Market Experiences Slight Recovery

April 2011

The market registers over $30 million in social housing purchases (up to $75.000).

Mario Rivera, president of Casalco, the Salvadoran Construction Chamber, explained that in the first months of 2011 they've experienced a paused recovery, the first since 2008.

However, he added, the situation is still fragile, and he acknowledged they must improve the lack of housing options for high income families.

El Salvador to Invest $113 Million in Housing

January 2010

For 2010, the National Housing Fund plans to build 4.752 housing units.

The first 499 homes will be built in Nuevo Belén, with the Fund inviting bids for constructing them in the first fortnight of February.

Marco Martín, president of the Fund (known as FONAVIPO in Spanish) explained that "a total 45.000 jobs will be generated in the year by this investment, an important Government contribution to the construction industry", reported Laprensagrafica.com.

El Salvador: Housing Loans Down 70%

October 2009

Commercial banks loaned $84 million between January and August; in the same period of 2008 they gave credits for $302 million.

Mario Rivera is the President of Casalco, the Salvadoran Construction Chamber. He argues the government's anti-crisis plan does help his sector, but it is not enough.