URBAN DEVT II

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The National Low Income Housing Project for Ecuador three objectives are: (i) to support the Government's policy of providing affordable housing to low-income families; (ii) to strengthen BEV (Banco Ecuatoriano de la Vivienda - Ecuadorian Housing Bank) and JNV (Junta Nacional de la Vivienda - Ecuadorian Housing Bank), which are the two major institutions in the housing sector; and (iii) to support the expansion of low-cost housing in secondary cities. About 50 percent of project investments will directly benefit families with incomes the absolute poverty level and most of the estimated 81,000 beneficiaries are individuals who have previously not owned housing. The project includes four major components: new housing, urban upgrading, community facilities, and home improvement loans. The project also includes funds for project management and some technical assistance for the implementing institutions.