JO-HOUSING FINANCE/URBAN

closed

The objectives of the Housing Finance and Urban Sector Reform Project for the Hashemite Kingdom of Jordan are to improve the efficiency of the housing and housing finance sectors, to promote private sector development in land and housing production, and to reduce the government's role in both sectors. Through the establishment of a Secondary Mortgage Facility (SMF), the project will aim to improve the efficiency with which medium- and longer-term financial flows of mortgage lending are mobilized, to facilitate and foster competition in market-based mortgage lending, and to lengthen the term structure of mortgage lending. Through the implementation of institutional and regulatory reforms in the real sector, the project will also aim to improve the enabling environment for responsive private sector participation and competition in land and housing development for lower income households. The first of two project components is to create an SMF incorporating: (a) an SMF refinancing program; (b) equipment for the SMF; and (c) technical assistance to the SMF. The second project component is to make institutional and regulatory reforms; more specifically, to provide technical assistance to the Housing and Urban Development Corporation.