-8.4 C

$50 million guarantee from IDB for FSV to grant mortgage



Legislative Assembly. / record

Legislative Assembly. / record

On December 19, 2022, the Legislative Assembly approved a signed State Guarantee Agreement for a loan agreement signed by the Housing Social Fund (FSV) with the Inter-American Development Bank (IDB).

The funds the FSV obtains from the loan will be used for public housing mortgages, according to a decree approved by lawmakers this Thursday, backed by the state of Salvador.

With this loan, the government will “help reduce the country’s housing deficit by providing mortgage loans to qualifying low- and middle-income families to acquire low-income housing and improving stability.” intended to be and conditions of family life”.

The FSV must repay the credits over a period of 25 years (including a grace period of 66 months) at an annual rate of Libor plus the applicable margin for the fixed rate option.

Source: Diario Elmundo

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