Abstract
In 1995, the Unit for Housing and Urbanization (the Unit) at Harvard University’s Graduate School of Design researched a micro-finance study on housing shortages in Quito, Ecuador to assess the impact of USAID’s Regional Housing and Urban Development Office for South America (RHUDO/SA) Ecuadorian Credit Program.
The Unit’s research presented solutions for housing shortages in Quito, Ecuador. The study discussed mechanisms for the extension of credit to lower income households through community based credit institutions, including productive housing loans, micro-enterprise loans, infrastructure provisions, and loan refinancing to solve housing shortages in Quito.
Documents are an executive summary and the main report (1995). Supporting documents include a micro-enterprise component from January 1995, a market report by Thomas J. O’Malley “Ecuador’s Secondary Market: Findings Possibilities and Recommendations,” and a summary memo titled “Reaching the Bulk of the Housing Problem with Loans” from Gustavo Riofrío to Mona Serageldin.
Excerpt
[Excerpt: Executive Summary]
“The study reviewed the structure and operations of various institutions involved in housing in Ecuador. The strategic objective was the development of micro finance instruments offering lower income households credit for housing and housing related finance on terms that are affordable, convenient and responsive to their needs.
The purpose of the study was to: 1) Assess the RHUDO’s current credit program as it relates to efficient urban improvement; 2) Assess the feasibility of expanding the Program into the areas of productive housing loans, micro enterprise loans, and infrastructure provision as well as the possibility of refinancing these loans.
Microenterprise Development: The study recommends advocating the concept of a “productive house” used as shelter and as income generator as an integral component of the self improvement strategies of lower income families. It allows them to upgrade their economic conditions as well as their living environment. Home based income generating activities are particularly important in helping women address some of their financial needs. For the working poor, income generation is an integral part of housing development. Investing in the house helps establish and expand home based micro-enterprises. Building on this concept the study focuses of the following components:
– Linking micro-enterprise and home improvement finance through the credit unions.
– Utilizing the same credit channels to lend directly for housing and micro-enterprise development.
– Refinancing portfolios of productive housing loans in order to leverage capital resources.
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| Project Year: | 1995 |
| Project Type: | Research Paper |
| Geographic Regions: | Quito, Ecuador |
| Reports: |
|
| Authors: | Mona Serageldin; David C. Jones; Sherif Lotfi; David Neilson; Thomas O’Malley; Gustavo Riofrio; Kimberley Wilson |
| Sponsors: | USAID Regional Housing and Urban Development Office |
| Categories: | Urban Finance |
| ID: | 1995_03_003 |
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