HOUSING MICROFINANCE CONFERENCE
SEPTEMBER 29 – OCTOBER 1, THE HAGUE, THE NETHERLANDS
FMO (the Dutch development bank) has organized a Housing Microfinance Conference to further support microfinance institutions (MFIs) in exploring the housing microfinance market and developing housing products.
FMO aims to enhance access to microloans for housing. In developing countries, low-income households are often excluded from housing finance by formal financial institutions. Despite the fact that the microfinance industry has made great strides in the area of housing, access to housing finance for lower income segments is still limited. In an effort to change this situation, FMO provides long term local currency finance and capacity development funding to local banks and MFIs.
FMO’s Housing Microfinance Conference will end with a signing ceremony of two capacity development contracts. The first is a EUR 43,000 facility for Stromme MF EA, a nonprofit wholesale financier, which provides finance and technical assistance to its 37 partners across 5 countries in East Africa. This facility enables Stromme to undertake a market study on affordable housing solutions for the poor. The outcome of the study, performed by ShoreBank International, will lead to a business plan for the development of a wholesale microfinance housing product.
FMO also will also sign a contract with International Home Finance & Development LLC (IHFD). IHFD is a US-based management company for global housing project development and global housing finance. FMO, through its program for Capacity Development, will provide IHFD with funds to support the feasibility study for IFHD’s first housing project, in the outskirts of Kabul, Afghanistan
The Netherlands Development Finance Company (FMO) is the international development bank of the Netherlands. FMO invests risk capital in companies and financial institutions in developing countries. FMO’s investment portfolio is EUR 3.4 billion. Thanks in part to its relationship with the Dutch government, FMO is able to take risks which commercial financiers are not – or not yet – prepared to take. FMO’s mission is to create flourishing enterprises, which can serve as engines of sustainable growth in their countries.
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