Panama: $ 300 Million to Reduce Housing Deficit
The Government announced the creation of a $ 300 million fund to encourage construction of popular housing.
Monday, November 1, 2010
The creation of this fund is complementary to the Housing Solidarity Fund which currently gives a $ 5.000 bonus to low-income families to buy a home.
Out of $ 99 million in loans it is estimated that 53% will be invested in new housing.
The Chamber of Builders and the government are working together to achieve the funding necessary to reach the target of 10,000 new homes every year.
The deficit between supply and demand for housing solutions is growing every year, requiring state policies for the creation of credit systems for low-income sectors.
The National Housing Fund began the bidding process, earmarking $3 million for it.
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