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Housing and financial institutions in developing countries : La vivienda y las instituciones financieras en los paises en desarollo (الإسبانية)

This paper presents an overview of issues arising in the development of housing finance institutions in developing countries. The housing problem is defined as the necessity to reconcile the three partially conflicting objectives of affordability for households, viability for financial institutions and resources mobilization for the expansion of the sector and of the national economy. The impact of the dynamics of the housing market and of the capital market on the growth prospects of housing finance institutions are examined. It is shown that only a minor proportion of annual housing investment (much less than 20% in the best cases) comes from financial institutions. The causes and consequences of this limited reach of housing finance institutions are discussed and some of the major issues encountered in the development of housing finance systems are identified. Much emphasis is placed on the need for governments to realize that they have two major but distinct responsibilities in the sector: the development of financially viable institutions and the provision of minimum basic urban services to the entire residential sector.

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نسخة رسمية من الوثيقة (قد تضم توقيعات، الخ)