MicroBuild fund -- Habitat for Humanity Int'l 1
The goal: $50 million for housing worldwide
Most microfinance institutions focus on providing low-income families with commercial loans, so that families can start, or improve upon, income-generating activities. Habitat is working to convince these microfinance institutions that they should also offer housing loans. The point is simple: make more capital available to families in need of decent housing.
To that end, Habitat for Humanity International has launched the MicroBuild Fund, which will provide funding and technical assistance for housing improvements worldwide. The initial goal is to raise $50 million for MicroBuild, with Habitat leveraging all donations. The money will be directed to responsible microfinance institutions so that they can begin offering housing loans to their low-income clients.
“We launched the MicroBuild Fund to show established microfinance institutions that housing loans can be a successful addition to their existing efforts,” says Mike Carscaddon, Habitat’s executive vice president for international field operations.
Participating microfinance institutions will match the amount of funds raised.