Honduras: $79 Million for Housing Construction
The private sector and the state will earmark $79.43 million for loans for housing construction in response to the economic crisis.
Tuesday, March 10, 2009
Enrique Briceño, former Housing Minister and representative for the Honduran Construction Industry Chamber told El Heraldo: "The solution to this crisis has begun in the housing sector and infrastructure investment. More than 1.5 billion Lempiras are reaching the poorest population at an interest rate of 9 to 10%."
Up to June banks had only provided financing for housing projects worth $14.36 million, while in the same period last year it had already reached $32 million.
The Central Bank announced the availability of the funds to finance the construction of homes.
During this year, the "Caja de Ahorros" (CA) aims to place $170 million in Mortgage Loans.
“Banco de Costa Rica” earmarked $100 million for a home loans program called “Vivienda para Elegir” (“Homes to Choose”).
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