[China Co-Financing Fund] IDB approves 30 million USD loan from CHC for Fondo MiVivienda Sustainable Social Housing Partnership

[China Co-Financing Fund] IDB approves 30 million USD loan from CHC for Fondo MiVivienda Sustainable Social Housing Partnership On 29 October 2014, the Inter-American Development Bank (IDB) approved a private sector loan (PSL) for the Fondo MiVivienda Sustainable Social Housing Partnership, through which the IDB would provide 120 million USD from its ordinary capital (Loan 3310A/OC-PE), and the People's Bank of China would provide 30 million USD (Loan 3310/CH-PE) via the China Co-Financing Fund for Latin America and the Caribbean.

However, the IDB lists this project as cancelled, and it does not appear a loan contract was signed.

The project, called the Sustainable Social Housing Finance Partnership, intended to contribute to the reduction of the housing deficit in Peru and expand access to financing for housing for low and middle-income families.

This was to be accomplished by providing funds to Fondo Mivivienda to expand access to mortgage finance and provide funds to a green housing portfolio.

Fondo Mivivienda is a state company under private law (empresa estatal de derecho privado) with the overall goal of promoting and financing the acquisition, improvement and construction of houses, especially those of social interest, in Peru.

Fondo MIVIVIENDA S.A. is the main entity through which the government of Peru executes its social housing policyand is under the Ministry of Housing, Construction and Sanitation (Ministerio de Vivienda, Construcción y Saneamiento, MVCS).

The China Co-Financing Fund was established on 14 January 2013 with a contribution of 2 billion USD by the People's Bank of China, and it is administered by the IDB. For more information, see umbrella Record ID#86526.