The Haiti Homeownership and Mortgage Expansion (HOME) program was implemented from 2015 to 2020 as a US$10 million USAID-funded initiative. In 2010, Haiti had a housing deficit of 500,000 houses, plus 180,000 homes lost in the earthquake – so the construction of affordable housing was necessary to disaster recovery. HOME aimed to catalyze both the supply and demand sides of the housing value chain by utilizing a Pay-for-Results (PfR) scheme, incentivizing investment in affordable housing from the private sector.
PfR breaks from the norm by rewarding private sector partners for reaching outcomes, instead of funding attempts to achieve those outcomes. By utilizing less than US$3 million, HOME catalyzed over US$25.9 million in private sector funding, demonstrating that this two-pronged approach can incentivize the development of an affordable housing market that is accessible to low- and middle-income buyers.
Source:
Affordable Housing Institute. (2021) Using Pay-for-Results to Catalyze Affordable Housing Development: A Case Study of the Haiti HOME Program. Affordable Housing Institute.