Honduras: Expands Loans for Housing

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

Monday, May 4, 2009

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."

More on this topic

Project to Finance Housing Loans Approved

June 2013

Costa Rica's Congress has approved a bill that seeks to exempt deposits used to finance long term housing loans from requiring a minimum legal reserved amount.

From a press release by the Legislative Assembly of Costa Rica:

The plenary legislature passed on its second and final debate with the support of 23 MPs bill number 17809, addition to Law No.

$50 Million for Housing in El Salvador

June 2009

Commercial Banks have authorized short term loans to builders for the construction of 5000 homes.

In response to the ‘anti-crisis plan’ announced by President Mauricio Funes on Thursday June 18th, the Salvadoran Banking Association (Abansa) will be authorizing construction loans for $50 million.

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.

El Salvador: Construction After Banking Flexibility

April 2009

In the absence financing solutions, the construction union sector initiated meetings with private banks.

The Salvadoran Construction Industry Chamber (CASALCO) is not seeking massive loans, but more flexibility in granting credit.

La Prensa Grafica published on its website: According to Nolasco, the hope is to find new funding mechanisms in private banking, as well as to know what the requirements are to gain access to resources. Earlier this year, several construction companies went to the the Multisectoral Investment Bank (BMI) to look for financing mechanisms that would allow the development of 11 housing projects that needed an investment of $70.1 million, of which $31 million was expected to be obtained from the second-tier bank."

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