CABEI facilitates access to social housing to more than 2,500 Salvadoran families
• Through US$50 million in financing, the Bank supports the Housing and Dignified Life Program (PROVIDA).
Tegucigalpa, June 29, 2021.- The Central American Bank for Economic Integration (CABEI) approved US$50 million in financing for the Fondo Social para la Vivienda (Social Housing Fund) for the Housing and Dignified Life Program (PROVIDA) to enable low-income households to have access to a decent housing solution through financing on differentiated terms to purchase or build a home in the departments with the highest multidimensional poverty index.
"This facility is expected to reduce the quantitative housing deficit through access to long-term financing for 2,592 families to acquire or build their homes, of which more than 50% will be owned by women, increasing their economic autonomy. It will also contribute to the sustained reactivation of the Salvadoran economy, job creation, and the multiplier effect of the construction sector," said the Bank's Executive President, Dr. Dante Mossi.
The resources for this operation come from CABEI's Program for the Reduction of Poverty and Economic and Social Exclusion (PRPEES), and are part of the Central American Housing and Sustainable Habitat Development Program (VIDHAS), through which a total of US$596.7 million has been channeled since 2015 to finance the construction and improvement of housing, as well as access to mortgage loans for the benefit of 109,122 families in Central America.
The development of the housing and human settlements sector is aligned with the CABEI 2020-2024 Institutional Strategy in the Human Development and Social Inclusion strategic axis, which aims to generate social capacities to improve the wellbeing and quality of life of the Central American region.