The Dominican Republic has an estimated housing deficit of 1.4 million units (51 percent of all housing units). Twenty-six percent of this deficit is due to overcrowding and new annual demand, while 74 percent is due to homes requiring improvements because of poor-quality materials or lack of access to basic services such as water and sanitation.
Taken from the newspaper HOY
SANTO DOMINGO.– The World Bank approved a US$100 million loan to increase access to affordable and resilient housing in the country under the Dominican Republic Government's flagship program, the "National Happy Family Housing Plan" (PNVFF), with a focus on low-income households, including those headed by women.
The National Housing Plan Support Project will be led by the Ministry of the Presidency (MINPRE) and will fund activities to close the overall gap in access to and ownership of affordable housing in the Dominican Republic. The project's main component will finance upfront housing subsidies for eligible households under the National Housing and Family Plan (PNVFF), led by MINPRE through the National Housing Fund (FONVIVIENDA).
The Dominican Republic has an estimated housing deficit of 1.4 million units (51 percent of all housing units). Twenty-six percent of this deficit is due to overcrowding and new annual demand, while 74 percent is due to homes requiring improvements because of poor-quality materials or lack of access to basic services such as water and sanitation.
“The World Bank is committed to supporting the Government’s efforts to provide affordable housing and improved urban living conditions for eligible households,” said Alexandria Valerio, World Bank Resident Representative for the Dominican Republic. “The project aims to provide financing to help 44,000 households acquire their first home by 2026, guaranteeing access to housing, basic services,andinfrastructure that will allow them to increase their economic independence.
The PNVFF aims to benefit approximately 140,800 low- and moderate-income people and is expected to provide 20 percent of total subsidies to 8,800 female-headed households, of which the World Bank loan will support approximately 4,000.
The proposed project will support the PNVFF (National Housing and Family Plan) in providing greater access to formal housing at lower prices for households previously excluded from the market. The variable-margin loan has a final maturity of 35 years, including a 5-year grace period, and is denominated in US dollars.
