Tuesday, the Overseas Private Investment Corporation (OPIC) and the Development Innovations Group (DIG), signed an agreement establishing a financing facility for low-income housing in Haiti.

OPIC is providing $17 million in a long-term loan to DIG, a Maryland-based finance and development firm, in conjunction with a $6 million grant from the U.S. Agency for International Development (USAID), and a $3 million grant from the Clinton Bush Haiti Fund.

Several U.S. government officials participated in the signing ceremony, including Elizabeth Littlefield, President/CEO of the Overseas Private Investment Corporation; Herbert Smith, USAID/Haiti Acting Mission Director; John Robinson, Economic and Commercial Counselor at the U.S. Embassy; and other project partners, including, Franck Daphnis, President/CEO of the DIG.

From left to the right: Herbert Smith, USAID/Haiti Acting Mission Director; Franck Daphnis, President/CEO Development Innovations Group (DIG); Elizabeth Littlefield, President/CEO of Overseas Private Investment Corporation (OPIC, and John Robinson, Economic and Commercial Counselor at the U.S. Embassy

The housing finance facility is helping to address a critical need for financing in Haiti. The project is creating three new loan products targeting low-income borrowers, including housing microfinance loans that start at USD $1,000, micro-mortgages that start at $5,000, and loans to help the economically active low-income sector to rebuild and reopen their businesses. It is estimated that more than 4,000 Haitians stand to benefit from the project.

See also :

https://www.haitilibre.com/en/news-6978-haiti-economy-affordable-home-mortgage.html

HL/ HaitiLibre