Habitat for Humanity, a US-based nonprofit organization, and Citi Foundation, the charitable arm of US-based financial services provider Citigroup, recently unveiled “The Housing Microfinance: Product Development Toolkit” in an effort to increase lending to improve housing for poor people worldwide.
The toolkit includes technical training materials for microfinance institutions (MFIs) to use as they begin disbursing loans intended to improve low-income clients’ housing. The guide was developed by Habitat for Humanity’s Center for Innovation in Shelter and Finance and sponsored by Citi Foundation and the Multilateral Investment Fund, an autonomous fund administered by the US-based Inter-American Development Bank. The resource includes market research on housing microfinance, a guide for developing construction technical assistance and a prototype for designing housing microfinance products and support services.
The toolkit will be featured in a training session at the 2012 SEEP (Small Enterprise Education and Promotion) Annual Conference.
As of 2012, Habitat for Humanity reported total net assets of USD 253 million. As of 2010, Citi Foundation reported total assets of USD 63.1 million. Since its inception, MIF reports having approved 1,600 projects in 19 countries, disbursing approximately USD 100 million per year in grants, equity and loans.
By Charlotte Newman, Research Associate
About Habitat for Humanity
Habitat for Humanity is a nonprofit, ecumenical Christian ministry whose mission is to provide poor people with clean, safe and affordable places to live. Since its inception in 1976, Habitat for Humanity has engaged the services of homeowners and volunteers to build houses under the supervision of trained builders. In the United States, the organization offers no-interest mortgage loans directly to low-income families, and outside of the United States it partners with microfinance institutions to distribute and service loans. Habitat for Humanity operates on six continents including in all fifty US states. As of 2012, Habitat for Humanity reported total net assets of USD 253 million.
About Citi Foundation
The Citi Foundation provides grants and guarantees focusing on the areas of microfinance, small and growing businesses, education, asset building and neighborhood revitalization. As of 2010, Citi Foundation reported total assets of USD 63.1 million. Citi Foundation is the charitable arm of US-based financial services provider Citigroup.
About Multilateral Investment Fund (MIF)
Multilateral Investment Fund (MIF) is an autonomous fund that was founded in 1993 by the US-based Inter-American Development Bank (IDB). Now a member of the IDB Group, MIF has 39 donating member countries from the Americas, Europe and Asia. Since its inception, MIF reports having approved 1,600 projects in 19 countries, disbursing approximately USD 100 million per year in grants, equity and loans.
Sources and Additional Resources:
Habitat for Humanity Press Release: “Habitat for Humanity and the Citi Foundation Unveil Housing Microfinance Toolkit for Product Development for Financial Institutions,” http://www.habitat.org/newsroom/2012archive/10_29_2012_Citi_Foundation_Microfinance.aspx
Habitat for Humanity: “Technical Advisory Services,” http://www.habitat.org/cisf/technical_advisory.aspx
MicroCapital.org story, January 25, 2012, “MICROCAPITAL BRIEF: US Government’s Overseas Private Investment Corporation (OPIC) Inks $45m Investment in Habitat for Humanity Housing Initiative, Microbuild Fund,” https://www.microcapital.org/microcapital-brief-us-governments-overseas-private-investment-corporation-opic-inks-45m-investment-in-habitat-for-humanity-housing-initiative-microbuild-fund/
MicroCapital.org story, July 31, 2012, “MICROFINANCE EVENT: 2012 Small Enterprise Education and Promotion (SEEP) Annual Conference: Building Inclusive Markets, Arlington, Virginia, USA, November 4-
8,” https://www.microcapital.org/microfinance-event-2012-small-enterprise-education-and-promotion-seep-annual-conference-building-inclusive-markets-arlington-virginia-usa-november-4-8/
MicroCapital.org story, September 12, 2012, “MICROCAPITAL BRIEF: Citi Foundation Grants $180k to Parinaam Foundation of India to Provide Financial Literacy Training to Clients of Microfinance Institutions Ujjivan,” https://www.microcapital.org/microcapital-brief-citi-foundation-grants-180k-to-parinaam-foundation-of-india-to-provide-financial-literacy-training-to-clients-of-microfinance-institution-ujjivan/
MicroCapital Universe Profile: Habitat for Humanity
http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Habitat+for+Humanity+International
MicroCapital Universe Profile: Citi Foundation
http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Citi+Foundation
MicroCapital Universe Profile: Multilateral Investment Fund
http://microcapital.org/microfinanceuniverse/tiki-index.php?
page=Multilateral+Investment+Fund+%28MIF%29
MicroCapital Universe Profile: Small Enterprise Education and Promotion (SEEP) Network http://microcapital.org/microfinanceuniverse/tiki-index.php?page=SEEP+Network
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/
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