MICROCAPITAL BRIEF: US Government's Overseas Private Investment Corporation (OPIC) Inks $45m Investment in Habitat for Humanity Housing Initiative, Microbuild Fund

The Overseas Private Investment Corporation (OPIC), a development finance agency of the US government, has finalized its commitment to issue a 10-year loan of USD 45 million to the Microbuild Fund, a Habitat for Humanity initiative to provide loans via microfinance institutions for poor people to improve their housing situations and funding for related technical support [1] [2]. The agreement was signed by Habitat CEO Jonathan Reckford, OPIC President Elizabeth Littlefield and MicroBuild chairman Mike Carscaddon and is a closing of the deal originally reported in July 2011 on MicroCapital.org (https://www.microcapital.org/microcapital-brief-habitat-for-humanity-rece...)

Full closing of the fund is expected at the end of March 2012. Habitat for Humanity partners with microfinance organizations in approximately 30 countries including Uganda, Kenya, Bangladesh, Brazil and India [3]. As of June 30, 2010, Habitat for Humanity reported total net assets of USD 274 million.

By Natalie Baer, Research Associate

About the Overseas Private Investment Corporation (OPIC): The Overseas Private Investment Corporation (OPIC) is an agency of the US government that was established in 1971 as a development finance institution. OPIC works with private-sector firms in the US to identify opportunities in emerging markets and create an enabling environment for private enterprise in developing countries. OPIC provides financing through direct loans as well as guarantees, political risk insurance and investment funds. As of September 30, 2010, OPIC reports total assets of USD 7 billion deployed in approximately 150 countries.

About Habitat for Humanity: 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 six continents. As of June 30, 2010, Habitat for Humanity reported total net assets of USD 274 million.

Sources and Resources:

[1] OPIC signs for MicroBuild (Triple Jump) http://www.triplejump.eu/good_news_about_triple_jump/OPIC+signs+for+Micr

[2] MicroBuild Fund
http://www.habitat.org/hw/inside_habitat/MicroBuild_Fund.aspx

[3] Housing Microfinance and Habitat http://www.habitat.org/hw/inside_habitat/Housing_microfinance_Habitat.aspx

MicroCapital Universe Profile: Overseas Private Investment Corporation (OPIC):
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Overseas+Private+Investment+Corporation+%28OPIC%29

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

MICROCAPITAL BRIEF: Habitat for Humanity Receives $45m Loan from Overseas Private Investment Corporation (OPIC), to Be On-Lent to Microfinance Institutions Through Housing Finance Programs, July 16, 2011
https://www.microcapital.org/microcapital-brief-habitat-for-humanity-receives-45m-loan-from-overseas-private-investment-corporation-opic-to-be-on-lent-to-microfinance-institutions-through-housing-finance-programs/

Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/