Nicaragua: $172 Million for Housing Construction

A loan from the Central American Bank for Economic Integration will finance the "National Program for the Construction of Social Interest Housing."

Thursday, April 2, 2020

The international organization reported that these resources will be used to finance the "National Program for the Construction of Social Interest Housing."

See "Construction and Impact of the Covid19"

The funding will be in two different tranches. The first, for $52.82 million, will have a 25-year term with a 5-year grace period and a 1.5% indicative interest rate under the Poverty Reduction and Economic and Social Exclusion Program (PRPEES).

The Central American Bank for Economic Integration announced that "... the second, for $118.83 million, will have a 25-year term with a 5-year grace period, at an indicative rate of Libor 6M plus 350 basis points, within the framework of the Central American Program for Housing and Sustainable Habitat Development (VIDHAS)."

According to forecasts by CentralAmericaData, it is estimated that the impact of the covid-19 crisis on the construction sector in Central America would mainly be explained by the expected fall in the business of prefabricated steel structures.

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More on this topic

Residential Construction: Goals for 2021

February 2021

After barely 1,000 houses were built in Nicaragua in 2020 in the context of the economic crisis generated by the covid-19 outbreak, the goal of local companies for this year is to build between 3,000 and 4,000 houses.

According to representatives of the Chamber of Developers of Nicaragua (Cadur), the prices of the houses to be built this year will range between $18,000 and $400,000.

Honduras: $42 Million for Social Housing

January 2021

The amount of $42 million was approved for the purchase or construction of low-income housing, through a trust fund created by the Central Bank of Honduras.

As a result of the covid-19 pandemic and the natural phenomena Iota and Eta, the Fiduciary Commission (COFID) of the Central Bank of Honduras (BCH) has approved the injection of an additional $42 million through the trust fund created by the BCH, of which $29 million will be destined for the purchase or construction of low-income housing and $13 million for improvements to low-income housing.

Nicaragua: $300 Million for Economic Reactivation

November 2020

The Central American Bank for Economic Integration approved a line of credit that the government will use to finance programs in the education, health, housing and road infrastructure sectors.

The loan is aimed at the Multisectoral Program for Economic Reactivation and Social Protection (NIC-Solidaria), which aims to initially support at least 41 projects and programs of public investment, production and social assistance, reported the Central American Bank for Economic Integration (CABEI).

El Salvador: More Resources for Social Housing

May 2019

The Central American Bank for Economic Integration expanded the Social Fund for Housing's Global Line of Credit by $60 million to $100 million.

From the CABEI statement:

Tegucigalpa, May 24, 2019 - The Central American Bank for Economic Integration (CABEI) granted an extension to the Global Credit Line (LGC) of the Social Fund for Housing for US$ 60 million, the new amount is US$100 million.

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