CO-L1100 : Mortgage Loan Program for Low Income Families in Colombia

Project Status
Cancelled

The project's objective is to contribute to reducing the quantitative housing deficit for the Base of the Pyramid (BOP) in Colombia by facilitating access to mortgage loans for low-income housing. To achieve this objective, the Opportunities for the Majority Sector is proposing to provide a Partial Credit Guarantee (PCG) of up to US$5.2 million, equivalent in Colombian Pesos (COP), to Credifamilia Compañía de Financiamiento Comercial S.A, the first regulated financial institution in the country to specialize in mortgage lending for low-income housing (Vivienda de Interes Social, or VIS). With the IDB PCG, Credifamilia will be able to borrow US$5 million, equivalent in Colombian Pesos (COP), from the Inter-American Investment Corporation (IIC) (The Guaranteed Loan). The IDB resources would support Credifamilia's early loan origination activity and allow it to attract additional financing from the market.

PROJECT DETAIL

Project Number CO-L1100
Operation Number 2577/OC-CO
Country Colombia
Sector URBAN DEVELOPMENT AND HOUSING
Subsector URBAN DEVELOPMENT AND HOUSING-HOUSING
Project Type Guarantee
Project Status Cancelled
Approval Date SEP 14, 2011
IDB Financing * 5.24

PROJECT INFORMATION

Total Cost H USD 5,239,211
Financing Type Guarantee
Fund Ordinary Capital
Reporting currency USD - United States Dollar
Reporting Date SEP 30, 2017
PORTFOLIO DETAILS
Key Value
H Historical
R Revalued

*For active and closed projects, the IDB financing at Board approval is shown in US$ millions. This does not reflect any cancellations. For projects in Preparation the amount shown is the Estimated IDB Financing. Approved projects shows either Estimated IDB Financing or Historic Approved amount. The IDB financing for projects in the pipeline is indicative and may be modified during the project preparatio

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