IDB considers that there is little access to credit for housing

IDB considers that there is little access to credit for housing

Low levels of access to credit for the acquisition of housing for women, informal workers and people with low-middle income in the Latin American and Caribbean region, for which greater participation from banks is required to reduce the levels of housing deficit in the region, the Corporation stated yesterday Inter-American Investment Bank (IDB Invest).

“Despite the efforts of the financial sector, we continue to see low levels of financial penetration and less access to acquire housing among people with medium and low incomes, despite the fact that the supply and demand for quality housing has increased,” said the chief. from the corporate division of IDB Invest, Aitor Ezcurra.

He explained that investment in sustainable housing models will reach 16 billion dollars by 2030, a context that will encourage the private sector to adapt its business model to new resilient housing solutions as an alternative to the housing deficit facing the region.

Ezcurra raised the housing investment trend at the Housing Forum 2022: Solutions to reduce the housing deficit in Latin America and the Caribbean, held by the IDB Group in Washington, in a hybrid mode, with the participation of some 40 experts on related topics to the housing sector.

During his participation, Ezcurra reported that Latin America and the Caribbean have one of the highest rates of urbanization. “Between 2000 and 2030 the urban population will go from 400 million to 600 million, an increase that will increase the supply and demand for housing in the region,” he said.

The IDB Invest representative assured that the role played by private companies and, above all, the financial sector It is important to close the gap in access to decent and quality housing. “Especially to meet the demand for sustainable housing that is resilient to climate change, which is increasing in the region.”

He went on to say that the housing sector is of great importance for the sustainable development of the region and the effects on it have a high impact on other areas that drive the economy.

Dominican journalist specialized in economics and finance, graduated from the Universidad Dominicana O&M.

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