Enhancing Access to Affordable and Energy Efficient Housing Project

proposed

The project aims to promote affordable mortgages to low-to-moderate income level, which meet green criteria, to support access to housing finance by the low-to-moderate income group including women. Proposed solutions include: (i) supporting the development and funding of long-term green mortgages enabling the low-to-moderate income population, including women borrowers, who are not served by the existing mortgage programs of SMC or the commercial banking sector to acquire new green and energy efficient housing; (ii) supporting the development and funding of renovation loans aiming at adapting existing housing to the impacts of climate change; (iii) creating a sustainable financing scheme including the adoption of ESG principles enabling SMC to blend private finance and more effectively support the commercial mortgage market's development and; (iv) supporting development and adoption of green housing criteria and building standards for use by the private construction sector and banks.