Honduran Construction Gets $23 Million

Of the $212 million total in the Central Bank trust, $23 million have already been handed over between January and February.

Wednesday, March 18, 2009

Journalist Reynaldo Yanes explained in Laprensahn.com: "Of the $530 million which make up the trust, $212 million belongs to housing sector, urbanization, shopping center and hydroelectric generation projects as reported by the president of Honduran Private Enterprise (COHEP), Alejandro Alvarez. Thanks to this stimulus, the construction industry would be able to recover all of the 25 thousand jobs it has lost since last year when long-term credit lines began to close; a situation that was influenced by the development of the international financial crisis."

More on this topic

Honduras: $339 Million Available for Housing Projects

January 2010

The Bank for Production and Housing (Banhprovi), has earmarked $339 million for funding homebuilding projects.

Banhprovi’s executive president, Julio César Quintanilla, added that in 2010 they will also loan resources for production and micro-credit.

According to Honduran daily La Prensa, Quintanilla remarked that 2009 was a record year for the institution, as they disbursed more funds than ever.

Honduras: Construction Industry Lost $201 Million in 2009

December 2009

2009 was not the best year for the construction industry, which recorded a 34% drop when compared with 2008.

Alejandro Álvarez, vice president of Chico, the Honduran Chamber of Construction, blamed the global financial crisis and the domestic political showdown. Other contributing factors were credit restrictions enforced by the Inter-American Development Bank and the Central American Bank for Economic Integration, as well as the decision by Brazil's and Taiwan's governments to postpone funding for three hydroelectric power plants.

Honduras: $158 Million for Construction

May 2009

Private banking requested $158 million from the Honduran Production and Housing Bank to boost the construction sector and generate jobs.

The requested funds are part of a trust worth $529 million that the Honduran Production and Housing Bank (BNHPROVI) has in order to stimulate the economy.

Honduras: Expands Loans for Housing

May 2009

People owning a home can now opt to finance a second home.

Stimulation of the construction industry is sought by making the requirements for accessing the funds of the Banhprovi trust more flexible.

Reynaldo Yanes wrote in Laprensahn.com: "Of the 10 billion Lempiras ($529 million) which the Banhprovi trust has, up to 4 billion ($212 million) will be invested to stimulate the construction industry in both the public and private sectors by way of a rediscount through the banking system."

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