Honduras: $158 Million for Construction

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

Tuesday, May 12, 2009

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.

According to Laprensahn.com, Julio Quintanilla, president of BNHPROVI, said: "The directors of the construction industry are talking about some 300 thousand jobs created through this financial policy that is very favorable in terms of interest rates."

The institution expected to place only $52 of the $529 million that it has available through the trust.

More on this topic

Salvadoran Banking Loan Less for Construction

January 2012

Financial institutions lent 15% less for building houses in 2011, complained the Chamber of Construction.

The Salvadoran Chamber of Construction Industry (Casalco) reported that the portfolio of loans for housing construction experienced a decrease of 15% in 2011, as banks only granted $113.9 million.

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: 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."

Honduras: Ficohsa Bank Offers 10% Financing

March 2009

Ficohsa Bank announced that it will offer loans for projects at a rate of 10% with 7 year terms and a 3 year grace period.

The funds are coming from credit lines with BANHPROVI (Honduran Production and Housing Bank), and are oriented toward the growth of the country’s productive sector.

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