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| | 1 - 3 of 3 titles |  |
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Experimental Reimbursable Seeding Operations
| Country: | Latin America and the Caribbean, Africa & Arab States, Asia & Pacific, Europe & Former Soviet Union States |
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| In April 2007, the Governing Council of UN-HABITAT adopted Resolution 21/2 on the Medium-term Strategic and Institutional Plan for 2008-2013 (MTSIP) and Resolution 21/10 on “Strengthening the Habitat and Human Settlements Foundation: Experimental financial mechanisms for pro-poor housing and infrastructure”. GC 21/10 requests the Executive Director of UN-HABITAT to establish a trust fund within the Foundation for a four-year experimental period from 2007 to April 2011 to support the implementation of Experimental Reimbursable Seeding Operations (ERSO) and other innovative financial mechanisms.
Projects will be designed to catalyze domestic investment capital and domestic savings through the provision of seed capital, other innovative financial mechanisms, including credit enhancements, and technical assistance in a comprehensive and structured financial package.
ERSO seed capital in the form of loans or credit enhancements will be provided to domestic financial institutions (banks, microfinance institutions) to enable loans for low-income housing, upgrading and infrastructure in combination with technical assistance to catalyze investments in pro-poor housing, related infrastructure and upgrading in close partnerships with national and local governments and support by local intermediaries. The target groups of ERSO products are either low-income clients themselves or actors involved in the provision of lower-income shelter.
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Fast, secure, efficient and cost effective money transfer
| Country: | Kenya |
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| Safaricom was awarded the Habitat Business Award in 2009 for its M-Pesa Money Transfer Service, a state-of-the-art mobile phone based service that enables customers, especially the unbanked population, to transfer funds amongst each other and to their families in the rural areas in a fast, secure, efficient and cost effective manner. The initiative boots urban entrepreneurship and clearly demonstrates the role and impact of innovative IT solutions for sustainable urbanization. http://www.safaricom.co.ke |
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Making the dream of affordable housing a reality for hundreds of thousands of households
| Country: | Philippines |
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| Pag IBIG Fund based in the Philippines is nominated for making the dream of affordable housing a reality for hundreds of thousands of households. The fund was set up in 1979 and sustained for 27 years. It offers a rich variety of housing solutions with special attention for investments of Filipino migrants working overseas. By its very name, which stands for “Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya, at Gobyerno”, Pag-IBIG Fund works towards making a reality the vision of a home for every Filipino family. Created on June 11, 1978, the Home Development Mutual Fund (HDMF) has a two-pronged mandate: generation of savings and provision of shelter for the Filipino workers.
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Details