With a rapidly growing economy and urban population, the Philippines is expected to have a housing backlog of 6.5 million households by 2030. While there is evidence of many households wanting to make improvements to their homes, and of wanting access to housing loans, financial institutions do not have the products nor services to meet the needs of low-income families. Housing microfinance has attempted to meet this need, but there remains a large gap between supply and demand.
However, certain groups have attempted to bridge this divide and assist low-income families with accessing housing finance. One of the country’s largest microfinance institutions, Negros Women for Tomorrow Foundation, in partnership with the Terwilliger Center for Innovation in Shelter, introduced a housing offering that is focused on improving the lives of low-income families and promote adequate housing.
Source:
Terwilliger Center for Innovation in Shelter. (2020) Case study: Improving access to housing microfinance solutions among low-income households in the Philippines. Habitat for Humanity: Terwilliger Center for Innovation in Shelter.
Link: https://www.habitat.org/our-work/terwilliger-center-innovation-in-shelter/publications-videos