LAND DEVELOPMENT

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The project has four main objectives: (a) provide serviced residential lots at affordable prices specifically targeted to squatter and low-income families; (b) provide medium-term financing to eligible private sector property developers for construction of housing for low-income families; (c) foster the participation of private sector banks in the housing finance sector; and (d) improve the housing finance sub-sector, housing subsidy policies and the land delivery process. Bank financed components include: (a) the preparation of serviced lots by the Societe Nationale d'Equipement et de Construction (SNEC); (b) sub-loans to private sector developers exclusively for constructing serviced lots and houses; (c) studies for the Ministry of Housing to review the housing finance sector, the level and distribution of land/housing subsidies, the land delivery process and market performance, and socio-economic impacts of rehousing; and (d) technical assistance to enhance the institutional capacity of SNEC and the Credit Immobilier et Hotelier.