Kenya project 615-0225 · 1983–1992 · financial sector · Cooperative Housing Foundation (CHF International)

Housing Guaranty (HG) project to develop the capacity of Kenya's private housing sector to provide low-cost housing. The Regional Housing and Urban Development Office (RHUDO), in cooperation with Kenyan entities, will implement the project, which focuses on construction by, and institutional development of, housing finance institutions (HFI's) and the National Cooperative Housing Union (NACHU). The Central Bank will relend HG funds to five HFI's and to NACHU, which will receive up to 20% in HG funds for further relending to its members; cooperatives' projects, which are likely to be slow in developing, will be treated preferentially. USAID/K and the Ministry of Works, Housing, and Physical Planning (MWHPP) will determine the eligibility of recipient institutions, funding levels (to be based on family income), and loan repayment terms, and will also negotiate reduced building standards with the planning offices of participating cities. The HFI's will conduct technical and financial studies, while developers will buy and subdivide land, obtain municipal approvals, and build and sell the new houses. The latter will number 3,000 (2,500 by HFI's, 500 by NACHU) and will benefit 13,00

Source: DEC abstract, PD-BAT-366 (1983). The source's own text.