Paraguay's housing program pre-approves 6,100 credits

Paraguay is making strides in addressing its significant housing deficit, with the Che Róga Porã program pre-approving or analyzing credits for 6,100 families. The initiative, a collaboration between the Ministry of Urbanism, Housing, and Habitat (MUVH) and the Financial Development Agency (AFD), aims to provide access to housing for middle-income families.

Minister Juan Carlos Baruja highlighted the program's exponential growth over the past ten months. The recent launch of Che Róga Porã 3.0, which expands income eligibility, has already shown a favorable response. This updated version addresses a previous limitation where individuals earning just over six minimum wages were excluded.

The program operates nationwide through a network of 34 partner financial institutions, including banks, finance companies, and cooperatives. To date, operations have reached over $269 million. The MUVH anticipates closing the year with 7,000 to 7,500 credits issued.

To further facilitate access to housing, the MUVH and AFD are hosting the Expo and Foro Che Róga on July 25-26 at the Port of Asunción. This free event will gather financial entities, real estate developers, and other stakeholders, offering families concrete financing options and alternatives for homeownership. The ministry expects a strong turnout, encouraging interested individuals to apply during the forum.

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The 3.0 version was to provide a response to many interested parties, because we had workers whose incomes exceeded six minimum wages who were rejected by the program.