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."
People owning a home can now opt to finance a second home.
Private banking requested $158 million from the Honduran Production and Housing Bank to boost the construction sector and generate jobs.
2009 was not the best year for the construction industry, which recorded a 34% drop when compared with 2008.
The Bank for Production and Housing (Banhprovi), has earmarked $339 million for funding homebuilding projects.
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