As a public financial institution founded in 1998, Fondo MiVivienda (FMV) provides Peruvian low- and middle-income households with housing finance. In a country with a 1.8 million housing unit deficit, the need for building affordable and sustainable housing is urgent. AFD provided support to FMV to target the sustainable and social housing sector, allowing FMV to develop an operational manual on green criteria that must be complied with in order to be certified.
Once certification is conducted, the home-buyer can also apply for a grant to make the price of their unit equal to the price of a conventional housing unit (Bono Mivivienda Sostenible). To create a sustainable housing market, this credit line if combined with a technical cooperation program. Impacts of FMV have been an overall improvement in the technical characteristics of urban housing, the stimulation of supply demonstrating the benefits of these products, and the development of a consultancy sector for the sustainable certification audits of residential buildings.
Source:
AFD. (n.d.) Supporting the Financing of Sustainable Housing and Improving Living Conditions. AFD.