Peru’s Fondo MiVivienda, which is part of the FONAFE Corporation (National Fund for the Financing of State Business Activity) was founded in 1998, and continues offering financial products to lower-socioeconomic groups to this day. The products offered include New MiVivienda credit to finance the purchase of a new home valued between US$15,800 and US$80,000; Techo Propio, which is a loan to cover the difference between a home being built and a family’s savings; MiTerreno, which is a credit for the purchase of land being used for housing; and finally, MiProyecto, a financial product for housing developers building primarily social housing.
Fondo MiVivienda utilized a targeted and differentiated subsidy line, along with agreements with financial institutions, and access to technical support. In 2019, over 55,000 family bonds were granted, which constituted a US$410,000 million disbursement.
Source:
Rodríguez Armas, J. C. (2021) Barreras de Acceso a Programas de Subsidios a la Vivienda en Perú: Estudio y propuestas de innovaciones en políticas públicas” Habitat for Humanity International Terwilliger Center for Innovation in Shelter.
Link: https://www.ctivperu.org/segmento-de-la-construccion-progresiva-en-el-peru-2/