digh po box 611 1200 ap hilversum the netherlands +31 (0)35-6268383 central and eastern european...
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DIGHPO Box 611
1200 AP HilversumThe Netherlands
+31 (0)35-6268383www.digh.nl
Central and Eastern European experiences on financing social housing programs
Marie-Odile ZandersProject Coordinator CEE
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‘Market’ for DIGH finance
affordable housing-new/reconstruction
-rental/owner occupied
SEE/CEE NEEDS ON HOUSING MARKET
EXISTING FINANCINGCAPACITY
middleincomes
topmortgages
Some countries:subsidy on Interest level
Some countries:LimitedState budget financing
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THREE CORNERSTONES
CONSTRUCTIONCOSTS (per m2)
FINANCIALARRANGEMENTS
AFFORDABILITY
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THREE CORNERSTONES
HOUSINGPOLICY
CONSTRUCTIONCOSTS (per m2)
FINANCIALARRANGEMENTS
AFFORDABILITY
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What does DIGH do?• supports urban regeneration, affordable housing and
energy efficiency activities benefiting middle and lower income families outside the Netherlands
• ‘gets the wheel turning’ for affordable housing sector
• finances or guarantees land, development cost, infrastructure, construction, mortgages, energy efficiency
• current loan portfolio of 55 million Euro (backed by AAA guarantees from Dutch social housing inst.)
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DIGH in CEE region: 2004 - now
• Portfolio worth EUR 13,5 M covering 18 projects
• Focus on: New built housing (social rental / for sale)Renovation(energy-efficiency / basic
upgrade)
• Loans provided in: Armenia, Bulgaria, Croatia, Hungary, Latvia, Macedonia, Montenegro, Romania and Ukraine
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DIGH borrowers for energy efficiency projects
• Individual / groups of condominiums
• Energy Servicing Companies (ESCO’s)
• through micro-finance institutions (MFI’s)
• in partnership with local banks (with back-up from IFI’s: IFC / KFW / USAID-DCA)
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Residential EE renovation: experiences in Ukraine through ESCO-model
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Residential EE renovation: experiences in Latvia through ESCO-model
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Basic residential EE renovation: through NGO-MFI model
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Key issues for sustainable project implementation
• Status institutional framework: legal, financial, etc.
• Who develops a pipeline of projects and how are they financed?
• Who gains the benefits of the renovation?
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THANK YOU & Feel free to contact us!
General DIGH issues
+ 31 35 626 8383 or [email protected]
For Central & Eastern Europe