Honduran housing bank to restart financing with $400 million loan

Sergio Roberto Amaya, executive president of the Honduran Bank for Production and Housing (Banhprovi), announced that the institution expects to relaunch its financing funds by September. This reactivation follows the securing of a $400 million loan from the Development Bank of Latin America and the Caribbean (CAF).

Amaya explained that these funds, equivalent to approximately 11 billion Honduran lempiras, will bolster credit programs for housing. The available funds had been exhausted due to exceptionally high demand, necessitating this new financing injection. The loan is anticipated to significantly strengthen Banhprovi's capacity to support citizens' housing needs.

With this new financial backing, Banhprovi aims to initially assist between 15,000 and 20,000 families. The program will facilitate the construction or acquisition of a similar number of homes. The initiative encompasses housing of social interest, valued up to 1.2 million lempiras, as well as middle-class housing options priced up to 4 million lempiras.

Furthermore, the bank will introduce credit lines specifically for housing improvements, offering competitive terms. Amaya highlighted that the revamped scheme will combine long-term loans with direct subsidies on both the principal and monthly installments. This approach is designed to make homeownership more accessible and affordable for a broader segment of the population, ensuring manageable repayment conditions.