Mortgage Loan Program for Low Income Families in Colombia
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

Country

Colombia

Project Number

CO-L1100

Approval Date

September 14, 2011

Project Status

Cancelled

Project Type

Guarantee

Sector

URBAN DEVELOPMENT AND HOUSING

Subsector

HOUSING

Lending Instrument

BID Invest

Lending Instrument Code

IIC

Modality

PCG (Partial Credit Guarantee)

Facility Type

-

Environmental and Social Impact Category (ESIC)

-

Total Cost

USD 5,239,211.00

Country Counterpart Financing

USD 0.00

Original Amount Approved

USD 5,239,211.00

Can’t find a document? Request information

 Implementation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-1442317116-24812
Agreement - Financial Closing - SCF
Colombia_ Partial Credit Guarantee 2577_OC-CO to Credifamilia Compañía de Financiamiento S_A_ Mortgage Loan Prog [39232101].PDF
Feb. 02, 2015
English
https://www.iadb.org/document.cfm?id=EZSHARE-1442317116-24810
Agreement - Financial Closing - SCF
Colombia_ Garantía Parcial de Crédito 2577_OC-CO a Credifamilia Compañía de Financiamiento S_A_ Programa de Prés [39231839].PDF
Feb. 02, 2015
Spanish
https://www.iadb.org/document.cfm?id=EZSHARE-1442317116-24809
Agreement - Due Diligence - SCF
Credifamilia Compañía de Financiamiento S_A_ - Mortgage Loan Program for Low Income Families in Colombia [36311301].PDF
Apr. 03, 2014
English
https://www.iadb.org/document.cfm?id=EZSHARE-1442317116-24811
Agreement - Due Diligence - SCF
Credifamilia Compañía de Financiamiento S_A_ - Programa de Préstamo Hipotecario para Familias de Bajos Ingresos [36311314].PDF
Apr. 03, 2014
Spanish
 Preparation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-1442317116-12927
Environmental and Social Management Reports
CO-L1100_Credifamilia_ESMR [36288064].PDF
Aug. 31, 2011
English
https://www.iadb.org/document.cfm?id=EZSHARE-1721903199-10159
Project Abstract
Project Abstract-Credifamilia [35838284].PDF
Dec. 31, 1999
English
https://www.iadb.org/document.cfm?id=EZSHARE-1442317116-12269
Environmental and Social Strategies
Environmental and Social Strategy-Credifamilia [35838321].PDF
Dec. 31, 1999
English

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