CAF, Government of Argentina, and Fundación Pro Vivienda Social make an alliance to improve the habitat of vulnerable neighborhoods

CAF, Development Bank of Latin America, signed an agreement today with the Fundación Pro Vivienda Social (Foundation in Favor of Social Housing) and the Under-Secretariat of Housing of the Ministry of the Interior, Public Works, and Housing of Argentina, which will help advance the first stage of the project Fideicomiso de Mejoramiento Habitacional Familiar (Family Housing Improvement Trust) which, in the medium term, will support housing improvements for 10,000 families of vulnerable neighborhoods in the Municipality of Moreno, in Buenos Aires. 

The project consists of creating a trust through which interested neighbors will receive loans which are adequate for their needs and possibilities, to carry out the home improvements that they need. Added to access to financing, this initiative will also provide technical assistance and quality construction services so that neighbors can access a comprehensive solution. The management and promotion of this project is in the hands of the beneficiary neighborhoods, thus contributing to solve not only the existing housing deficit, but also local development, leaving installed capacities and neighborhood participation strategies in the communities. 

Enrique García, CAF's Executive President, stated, "this initiative seeks to empower the community, and will help low income families access financing and quality technical assistance to improve their life conditions".  

At the same time, Raul Zavalia, Executive Director at FPVS, stated, "Today we are achieving a new objective, which is to have different actors join around a project managed by the neighbors themselves. At the Foundation we have always been convinced that the coordination of actors is one of the main keys to achieve high impact local development projects. Signing agreements with the Ministry is another step in this process that CAF has been supporting". 

Thus, the State becomes a new key ally in the development of this initiative, as it will contribute significant economic resources for the execution of future housing improvement works and expansion of new public services networks. The Ministry of the Interior, Public Works, and Housing joins this working alliance between CAF and FPVS through funds of the federal program for housing improvements called "Mejor Vivir" (Better Living).