“The Abinader Housing Plan is unprecedented”

The “Happy Family” National Housing Plan, announced by President Luis Abinader at the National Palace last Wednesday, will impact 61,000 families in four years, said Julio Peña Guzmán, Executive Director of the Presidential Commission on Trust and Mortgage Development, who explained that the project will be led by the Ministry of the Presidency through the National Housing Fund (FONVIVIENDA).

“It is an unprecedented initiative, not only because it strategically contemplates the construction objectives year by year, but also because it is a commitment assumed and fulfilled by the Government since the campaign, when the Modern Revolutionary Party and Luis Abinader himself presented it to the country its goals in one of the most important areas of human development: proper and dignified housing for all Dominicans, “said Peña Guzmán in an interview with Listín Diario.

Structure and financial model

The Plan was structured on the basis of Bancarisation and two types of subsidies focused on the Family, through FONVIVIENDA.

The first, of consolidated Bonds structures for the initial Housing, refers to the ITBIS Bond – Ley189-11; Family Bonus; Eviction Bonus + Land Bonus; Sector Bond; and Woman Bonus.

The bond structure for bank rates implies “a process of bankarization agreements with the main actors of the national financial sector for the management of financing and that includes a Scheduled Family Savings,” he explained.

In the first instance, “the private production of Social Interest housing will be encouraged to reach some 62,000 units in the next 4 years, 11,000 in this year that begins, and 17,000 in subsequent years, which will allow a significant reduction in the housing deficit for lower income segments, ”said Peña Guzmán.

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Project axes

Happy Family Housing is based on three axes: urban renewal through public and private financing; credit facility; and advice for the purchase.

“It is an unprecedented program; never has a government implemented a plan of this magnitude to access a home in all of history, “said Peña Guzmán. He affirmed that from the Presidential Commission on Trust and Mortgage Development, they will work to continue promoting the construction of low-cost and quality housing complexes, “and with the support of the private sector, to promote the creation of true urban centers that have quality housing , access to basic services and the opportunity for a better life, spearhead of the Government ”.

The Project will be executed through a PPP with State institutions, the housing development and construction sectors, and commercial banks. savings and loan associations, banking for micro-enterprises and cooperatives ”, he indicated.

DETAILS

At the operational level

The plan is a “joint and inter-institutional work of: URBE, Titling Commission, Directorate of Mortgage Development & Trust, Progresando con Solidaridad, SIUBEN, INVI and the Ministries of Women, Finance, and the Economy.

Vulnerable families

The plan is clearly focused on vulnerable families, with restricted income and in situations of displacement due to natural disasters, public calamities or emergencies. The beneficiaries will be concentrated in people or households that are part of social programs to overcome extreme poverty.

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