central and eastern european experiences on financing social housing programs
DESCRIPTION
Central and Eastern European experiences on financing social housing programs. Marie-Odile Zanders Project Coordinator CEE. ‘Market’ for DIGH finance. EXISTING FINANCING CAPACITY. SEE/CEE NEEDS ON HOUSING MARKET. affordable housing new/reconstruction rental/owner occupied. mortgages - PowerPoint PPT PresentationTRANSCRIPT
DIGHPO Box 611
1200 AP HilversumThe Netherlands
+31 (0)35-6268383www.digh.nl
Central and Eastern European experiences on financing social housing programs
Marie-Odile ZandersProject Coordinator CEE
‘Market’ for DIGH finance
affordable housing-new/reconstruction
-rental/owner occupied
SEE/CEE NEEDS ON HOUSING MARKET
EXISTING FINANCINGCAPACITY
middleincomes
topmortgages
Some countries:subsidy on Interest level
Some countries:LimitedState budget financing
THREE CORNERSTONES
CONSTRUCTIONCOSTS (per m2)
FINANCIALARRANGEMENTS
AFFORDABILITY
THREE CORNERSTONES
HOUSINGPOLICY
CONSTRUCTIONCOSTS (per m2)
FINANCIALARRANGEMENTS
AFFORDABILITY
What does DIGH do?• supports urban regeneration, affordable housing and
energy efficiency activities benefiting middle and lower income families outside the Netherlands
• ‘gets the wheel turning’ for affordable housing sector
• finances or guarantees land, development cost, infrastructure, construction, mortgages, energy efficiency
• current loan portfolio of 55 million Euro (backed by AAA guarantees from Dutch social housing inst.)
DIGH in CEE region: 2004 - now
• Portfolio worth EUR 13,5 M covering 18 projects
• Focus on: New built housing (social rental / for sale)Renovation(energy-efficiency / basic
upgrade)
• Loans provided in: Armenia, Bulgaria, Croatia, Hungary, Latvia, Macedonia, Montenegro, Romania and Ukraine
DIGH borrowers for energy efficiency projects
• Individual / groups of condominiums
• Energy Servicing Companies (ESCO’s)
• through micro-finance institutions (MFI’s)
• in partnership with local banks (with back-up from IFI’s: IFC / KFW / USAID-DCA)
Residential EE renovation: experiences in Ukraine through ESCO-model
Residential EE renovation: experiences in Latvia through ESCO-model
Basic residential EE renovation: through NGO-MFI model
Key issues for sustainable project implementation
• Status institutional framework: legal, financial, etc.
• Who develops a pipeline of projects and how are they financed?
• Who gains the benefits of the renovation?
THANK YOU & Feel free to contact us!
General DIGH issues
+ 31 35 626 8383 or [email protected]
For Central & Eastern Europe