Tomás Chévez, president of the Social Home Fund (FSV), commented that the agreements had been signed with Banco Agrícola and HSBC.
Without revealing the size of the loans, he added that the funds from Banco Agrícola will go towards five housing projects while the HSBC loan will fund two.
Since announcing the program, the FSV has received 32 proposals for constructing social housing. Of these 12 are now at the stage of obtaining funding from commercial banks, including the seven mentioned here.
Source: laprensagrafica.com
More on this topic
December 2010
Out of $ 99 million in loans it is estimated that 53% will be invested in new housing.
The trend over recent years has been the purchase of used housing, according to Thomas Chévez of the Social Housing Fund (FSV).
"The balance that could be achieved regarding the trend is because in 2011 the supply of new housing, specifically of social interest, will increase due to construction projects from the program “Casa para todos,” reports the article in Laprensagrafica.com.
November 2010
BCIE and IDB funds will finance the "Casa para Todos" (Housing for Everyone) program.
The $ 70 million Inter-American Development Bank loan will go to build 6.373 homes for low-income families, of which 2.000 would be ready by March 2011.
The credit of the Central American Bank for Economic Integration (BCIE), of also $ 70 million, "will be implemented by the National Housing Fund (FONAVIPO), which will bid the affordable housing projects to developers," Elsalvador.com reported.
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.
October 2008
The approval of the credit terms and conditions to acquire a home is part of the strategy promoted by the Fondo Social para la Vivienda (Social Housing Fund) to increase the loan coverage.
The credit policy also seeks to reduce the deficit of social interest housing, assured the president and executive director of the FSV Enrique Oñate Muyshondt yesterday.
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