HOME Program Quarterly Report / Annual Report [Q4 FY 2016]

The program is a collaborative effort between the World Council of Credit Unions (WOCCU) and the United States Agency for International Development (USAID). The program's primary objective is to increase access to housing and community services, as well as access to finance, through innovative means that address the constraints in Haiti's housing delivery system. The HOME program has developed a strategy to catalyze and incentivize the supply and demand sides of the housing value chain to create affordable housing. The program's key objectives include houses built or improved for target Haitian households, catalyzed by finance tools provided by HOME, and the issuance of housing finance, including mortgages, to target groups of Haitian households by participating financial intermediaries. During the fourth quarter of FY 2016, the HOME program launched three new housing value chain solutions under the HOME Facility grant fund. The program's commitments under the grant fund totaled USD 991,204.41, representing a 162% increase since the previous quarter. The HOME program has also secured commitments from partners totaling more than USD 13 million in private funds, which is an 80% increase since the previous quarter. The HOME Facility grant fund is designed to leverage private sector resources to achieve commercially driven outcomes that improve Haiti's housing market landscape. The program's approach has shown promising results, with partner financial institutions disbursing USD 1,012,994 for 155 housing loans in return for USD 71,859 in incentives. The HOME program works on both the supply and demand sides of the housing value chain. Through the HOME Facility fund incentives, WOCCU is mobilizing the Haitian financial sector and property developers toward a larger market for housing finance products and infrastructure. The program has also brought in its first bank partner, Sogebel, a subsidiary of the Bank Populaire d'Haiti. The HOME program has made significant progress in the fourth quarter of FY 2016, with the deployment of two new types of demand side solutions for the housing market in Haiti. These solutions include down payment incentives and a fully recoverable risk capital activity. The program has also secured agreements with two of the largest credit unions in Haiti and the second largest microfinance institution, as well as TECINA, Haiti's most experienced housing developer. The HOME program's progress is reflected in the following table, which displays the amount of loans made by partner financial institutions, the number of loans disbursed, and the incentives paid to PFIs through the HOME Facility: | Quarter | Amount of Loans Made by PFIs | # Loans Disbursed by PFIs | Incentives Paid to PFIs | | --- | --- | --- | --- | | Q1 FY16 | USD 0 | 0 | USD 0 | | Q2 FY16 | USD 234,014 | 19 | USD 13,600 | | Q3 FY16 | USD 655,206 | 80 | USD 27,000 | | Q4 FY16 | USD 1,012,994 | 115 | USD 71,859 | | Year 1 Total | USD 1,902,214 | 214 | USD 112,459 | The HOME program's commitment to improving access to housing and community services in Haiti is evident in its progress and achievements during the fourth quarter of FY 2016.