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Central and Eastern European experiences on financing social housing programs. Marie-Odile Zanders Project Coordinator CEE. ‘Market’ for DIGH finance. EXISTING FINANCING CAPACITY. SEE/CEE NEEDS ON HOUSING MARKET. affordable housing new/reconstruction rental/owner occupied. mortgages
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Central and Eastern European experiences on financing social housing programs Marie-Odile Zanders Project Coordinator CEE
‘Market’ for DIGH finance EXISTING FINANCING CAPACITY SEE/CEE NEEDS ON HOUSING MARKET • affordable housing • new/reconstruction • rental/owner occupied mortgages Some countries: subsidy on Interest level top middle incomes Some countries: Limited State budget financing
THREE CORNERSTONES AFFORDABILITY FINANCIAL ARRANGEMENTS CONSTRUCTION COSTS (per m2)
THREE CORNERSTONES AFFORDABILITY HOUSING POLICY FINANCIAL ARRANGEMENTS CONSTRUCTION COSTS (per m2)
What does DIGH do? • supports urban regeneration, affordable housing and energy efficiency activities benefiting middle and lower income families outside the Netherlands • ‘gets the wheel turning’ for affordable housing sector • finances or guarantees land, development cost, infrastructure, construction, mortgages, energy efficiency • current loan portfolio of 55 million Euro (backed by AAA guarantees from Dutch social housing inst.)
DIGH in CEE region: 2004 - now • Portfolio worth EUR 13,5 M covering 18 projects • Focus on: New built housing (social rental / for sale) Renovation(energy-efficiency / basic upgrade) • Loans provided in: Armenia, Bulgaria, Croatia, Hungary, Latvia, Macedonia, Montenegro, Romania and Ukraine
DIGH borrowers for energy efficiency projects • Individual / groups of condominiums • Energy Servicing Companies (ESCO’s) • through micro-finance institutions (MFI’s) • in partnership with local banks (with back-up from IFI’s: IFC / KFW / USAID-DCA)
Residential EE renovation: experiences in Ukraine through ESCO-model
Residential EE renovation: experiences in Latvia through ESCO-model
Key issues for sustainable project implementation • Status institutional framework: legal, financial, etc. • Who develops a pipeline of projects and how are they financed? • Who gains the benefits of the renovation?
THANK YOU & Feel free to contact us! General DIGH issues + 31 35 626 8383 or info@digh.nl For Central & Eastern Europe marie-odile.zanders@digh.nl