CABEI contributes to reducing housing deficit in El Salvador with third disbursement under PROVIDA program
This initiative will enable 2,592 low-income households to have access to decent housing.
San Salvador, June 20th, 2022.- In order to achieve the goal of reducing the quantitative housing deficit in El Salvador by 4.1% through the Housing and Decent Life Program (PROVIDA) executed by the Social Housing Fund (FSV), the Central American Bank for Economic Integration (CABEI) made a third disbursement of US$10 million of the total US$50 million, totaling US$29 million to date.
The program, known in the country as "Mi Vivienda" (My Housing), is expected to benefit 10,886 people from 2,592 low-income households in order to provide them with decent housing, with 52% of placements expected to go to women.
"We recently visited one of the housing projects that are part of this initiative, which guarantees integral solutions such as: roof, walls, floor, water, sanitation and electricity, and we are very pleased to see the progress of such an important program such as PROVIDA, which will guarantee decent housing for hundreds of Salvadoran families," highlighted CABEI Executive President, Dr. Dante Mossi.
PROVIDA is aligned with the Poverty Reduction and Economic and Social Exclusion Program (PRPEES) and the objectives of the multilateral Housing and Sustainable Habitat Development Program (VIDHAS); and plans to prioritize areas with a high Multidimensional Poverty Index in municipalities such as Santa Ana, Sonsonate, La Libertad, Cuscatlán, Cabañas, Chalatenango, La Paz, La Unión, Morazán and San Miguel.
This program's credits are granted by the FSV with competitive interest rates, zero premium, and are aimed at both the formal and informal labor sector with verifiable monthly income up to a maximum of four minimum wages and can be used for new or used housing.