The State of Housing Microfinance Report by the Center for Innovation in Shelter and Finance (CISF) of Habitat for Humanity International
Studies have shown that a majority of low-income families in Asia-Pacific and other regions upgrade their homes progressively. Lacking access to conventional financing, an estimated 330 million urban households living in inadequate housing are unable to improve their homes and lives. A recently published report by Habitat for Humanity’s Center for Innovation in Shelter and Finance highlights housing microfinance as a viable, sustainable means of providing families with a path out of poverty through decent housing.
“The State of Housing Microfinance” is based on a 2014 survey carried out among 48 financial institutions in four regions, including Asia-Pacific. The survey was designed to evaluate the financial institutions’ performance, growth and challenges with respect to providing housing microfinance services along with the inclusion of technical assistance with such services.
“Housing microfinance is a nascent product line within the sector. In the last five or six years it has become more understood. However, there is still an information gap, with financing institutions eager to learn about it, how to bring it to greater scale. With this survey, we are pulling together all the information about housing microfinance so that these interested institutions can find in one place the knowledge that they are looking for,” said Patrick Kelley, Senior Director for Market Development and Housing Finance, Habitat for Humanity International.
In conclusion, the survey found that in customizing housing microfinance to the way that low-income people are building their homes and financing the construction, microfinance institutions are appropriately responding to their clients’ needs while achieving financial and social results. The survey and the report are done by Habitat for Humanity’s Center for Innovation in Shelter and Finance (CISF) that facilitates collaboration between public and private partners to develop sustainable and innovative housing solutions for 1.6 billion people in need of decent housing.