Government Establishes First Public Mortgage Program
- Tuesday, March 01, 2011 9:28 AM
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For the first time in Haiti the public will have access to home mortgages, the Interim Haiti Recovery Commission (IHRC) announced Monday.
The program will include standard and "micro-mortgages" making financing accessible to even the very poor.
The IHRC, presided by Prime Minister Jean-Max Bellerive and co-chaired by former U.S. President Bill Clinton, approved 13 projects for $255 million. The establishment of a census to help the government find vacant land for new construction was included as well.
Also at the meeting were delegates from Spain and Japan who said their governments would be turning over about $30 million each toward their previous pledges of support to Haiti reconstruction. The international community pledged more than $5.6 billion to help Haiti rebuild but less than half of that money has been provided so far.
Source: The Canadian Press