MICROCAPITAL BRIEF: Habitat for Humanity, Microfinance Centre (MFC) for Central and Eastern Europe and the New Independent States Establish “Shelter Innovation Center” to Address Housing Needs in Europe, Central Asia

Habitat for Humanity (Habitat), a nonprofit housing organization based in the US state of Georgia that seeks to eliminate substandard housing, and the Microfinance Centre (MFC) for Central and Eastern Europe and the New Independent States, a regional network of 110 microfinance institutions (MFIs), recently agreed to work together to establish a Regional Center for Innovation for Shelter and Finance.

This project is part of a Habitat initiative to set up similar centers around the world to help introduce housing finance products into microfinance offerings in an effort to provide better housing for low-income families. “The importance of adequate housing tends to be overlooked among the development objectives,” explained Loucine Hayes, regional housing finance manager at Habitat for Humanity Europe and Central Asia.

The Habitat-MFC project aspires to help repair 20,000 homes during its first five years. The Regional Center for Innovation for Shelter and Finance will also provide training related to home improvement projects for 800 MFI employees from ten countries in the region.

By Hajar Elaalej, Research Associate

About Habitat for Humanity International: Habitat for Humanity is a nonprofit, ecumenical Christian ministry whose mission is to provide poor people with clean, safe and affordable places to live. Since its inception in 1976, Habitat for Humanity has engaged the services of homeowners and volunteers to build houses under the supervision of trained builders. In the United States, the organization offers no-interest mortgage loans directly to low-income families, and outside of the United States it partners with microfinance institutions to distribute and service loans. Habitat for Humanity operates in all fifty US states and 6 continents. As of June 30, 2010, Habitat for Humanity reported total net assets of USD 274 million.

About Microfinance Centre: Based in Poland, the Microfinance Centre (MFC) for Central and Eastern Europe and the New Independent States is an international network of approximately 110 microfinance institutions (MFIs) that aims to promote a socially oriented and sustainable microfinance sector. Its services include knowledge management, policy advocacy, research and development and assistance with technical services for the microfinance community.

Source and Additional Resources:

Habitat.org, “Habitat for Humanity and Microfinance Centre to address housing need in Europe and Central Asia”, http://www.habitat.org/eurasia/news/2011/05_20_2011_mou_microfinance_center.aspx

MicroCapital Brief, March 30, 2011, “Habitat for Humanity, Ask Group Launch MicroBuild India Fund for Home Improvement Loans”, https://www.microcapital.org/microcapital-brief-habitat-for-humanity-ask-group-launch-microbuild-india-fund-for-home-improvement-loans/

MicroCapital Universe Profile: Habitat for Humanity International, https://www.microcapital.org/microfinanceuniverse/tikiindex.php?page=Habitat+for+Humanity+International

MicroCapital Universe Profile: Microfinance Centre, https://www.microcapital.org/microfinanceuniverse/tikiindex.php?page=Microfinance+Centre+for+Central+and+Eastern+Europe+and+the+New+Independent+States

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