Thanks to an agreement with the Private Appropriations Regime (RAP)
The scope of this agreement allows the second level bank to continue subsidizing housing loans at 10.5%, versus 19% and up to 20% with private banks.
RAP, for its part, will receive 2% utilities for the purchase of $26.5 million in Government bonds destined for BANHPROVI
Source: latribuna.hn
More on this topic
July 2010
El Salvador’s government signs agreements with commercial banks to obtain short-term finance for the social housing project.
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.
January 2012
A joint housing project between a bank and the Chamber of Construction will be carried out in Tegucigalpa, Honduras.
The president of the National Agricultural Development Bank (Banadesa), Johnny Handal, and vice president of the Honduran Chamber of Construction Industry (Chico), Oscar Calona signed off on a program for building popular housing.
July 2009
As part of the anti-crisis plan, the government will take bids for construction of the first 2,000 homes.
The anti-crisis plan calls for the construction of 25,000 homes by means of the National Fund for Popular Homes (FONAVIPO, acronym in Spanish).
Mario Rivera, president of the Salvadorian Chamber of Construction, informed Laprensagrafica.com: “We are hoping that president (Mauricio) Funes approves the proposal for the construction of 13,000 homes funded by FONAVIPO, currently in the ant-crisis plan. He mentioned that there will be 2,000 homes built first. Also, we are hoping to move forward with the construction of 5,000 homes financed through private banks.”
October 2011
The rising costs of materials and the government's refusal to raise the ceiling price on affordable housing could derail the National Housing Plan.
The Government is maintaining its position of not raising the ceiling price of $20 000 to $26,500, saying that would not benefit low income families.
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