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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » ADB to boost housing loans in rural areas

ADB to boost housing loans in rural areas

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thilankad

thilankad
Manager - Equity Analytics
Manager - Equity Analytics
Approves $ 15 m loan to DFCC Vardhana Bank for relending for home purchase or rehabilitation in post-conflict and tsunami-hit areas

Sri Lankans living in post-conflict and tsunami-hit areas will soon have better access to badly-needed housing loans, after the Asian Development Bank (ADB) approved a $ 15 million (nearly Rs. 2 billion) loan to DFCC Vardhana Bank (DVB) to relend exclusively for home purchase or rehabilitation.

“In order to properly rebuild their lives, Sri Lankans affected by conflict or natural disasters need fair and secure access to home loans,” said Philip Erquiaga, Director General of ADB’s Private Sector Operations Department. “A well-functioning mortgage system with greater commercial bank participation will help reach these often underserved borrowers and help close the market gap.”

This is ADB’s first private sector housing finance project in Sri Lanka and is expected to help close the country’s housing shortage, which is estimated at between 350,000 and one million units, with an additional demand for about 100,000 units every year

http://www.ft.lk/2012/08/31/adb-to-boost-housing-loans-in-rural-areas/

http://thilankadinush.blogspot.com/

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Monitoring the loan utilization from the beginning to end ensuring the end users enjoy the final benefit of the loan is must.
Is this interest bearing loan or a grant?

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