Posted on October 10, 2008 - by lincolnw

IFC to assist the First Microfinance Bank to pioneer access to Housing Finance in Afghanistan

Kabul, Afghanistan, October 7, 2008—IFC, a member of the World Bank Group, today signed an agreement with the First MicroFinanceBank, Afghanistan (FMFB) to strengthen the bank’s capacity to introduce a product line that will address the housing needs of low- and middle-income Afghans.

Most microfinance institutions and banks in Afghanistan do not offer housing loans, and traditional housing finance is limited because the existing legal and regulatory infrastructure does not support mortgage lending. To bridge this gap, IFC and FMFB will join forces to ensure that low- and middle-income families and individuals have access to affordable housing loans…{click here to read the rest of this article}