Housing and Finance in Developing Countries (Hardcover)

Nearly one half of the world's urban population lives in poverty and about 800 million people occupy substandard housing. This "housing crisis" has continued unabated despite over 20 years of research and policy. At the forefront of new policy initiatives, confirmed by recent conferences such as Habitat II in Istanbul, is an inititiative to afford greater priority to finance, yet, with the expediation that the provision of small quantities of finance to low-income households will bring real improvements to the quality and quantity of housing provision. This book explores the linkages between formal and informal housing finance drawing upon the lessons of NGO and micro-finance practices. Both public and private formal finance institutions have experienced great difficulty in lending below a middle-income client group, and are often reluctant to lend for the purpose of housing at all. This failure of formal finance to filter down to low-income households, and in particular to women, has led various NGOs and community groups to create and adopt innovative finance programmes, such as informal savings banks and credit rotating schemes. The authors critically assesses the impact of these