El Salvador: $ 140 Million for Housing

BCIE and IDB funds will finance the "Casa para Todos" (Housing for Everyone) program.

Friday, November 5, 2010

The $ 70 million Inter-American Development Bank loan will go to build 6.373 homes for low-income families, of which 2.000 would be ready by March 2011.

The credit of the Central American Bank for Economic Integration (BCIE), of also $ 70 million, "will be implemented by the National Housing Fund (FONAVIPO), which will bid the affordable housing projects to developers," Elsalvador.com reported.

More on this topic

El Salvador Invites Bids for Building 390 Homes

October 2009

The National Housing Fund began the bidding process, earmarking $3 million for it.

12 municipalities will be benefited with the project, which is part of the program "Housing for Everyone" (Casa para Todos).

Elsalvador.com reports: "Each house will be built with cinder block walls, fiber cement board roof and lattice windows ...

El Salvador: 6.300 Housing Loans in 2011

December 2010

Out of $ 99 million in loans it is estimated that 53% will be invested in new housing.

The trend over recent years has been the purchase of used housing, according to Thomas Chévez of the Social Housing Fund (FSV).

"The balance that could be achieved regarding the trend is because in 2011 the supply of new housing, specifically of social interest, will increase due to construction projects from the program “Casa para todos,” reports the article in Laprensagrafica.com.

$232 Million in Social Housing

July 2009

Salvadoran home builders welcomed President Funes's announcement, that turns into reality the long awaited anti crisis plan for the sector.

Funded by the government and the private sector, the global housing project aims to build 25.000 homes, generating over 100.000 direct and indirect jobs.

“Housing for Everyone" Program Receives More Funding

July 2010

El Salvador’s government signs agreements with commercial banks to obtain short-term finance for the social housing project.

Tomás Chévez, president of the Social Home Fund (FSV), commented that the agreements had been signed with Banco Agrícola and HSBC.

Without revealing the size of the loans, he added that the funds from Banco Agrícola will go towards five housing projects while the HSBC loan will fund two.

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