US government’s Overseas Private Investment Corporation approves $100 million project for housing in Guatemala
Affordable home ownership in Guatemala received a boost following the approval of $100 million in financing by the Board of Directors of the Overseas Private Investment Corporation, the US government's development finance institution. The project will establish the country's first multi-bank, market-wide mortgage platform, generating approximately 2,000 mortgages and offering Guatemalans more affordable loans than those currently available.
Through an established network of banks, Mercury Mortgage Finance-Guatemala will use the financing to provide long-term, US dollar mortgages to low- and middle-income home buyers in Guatemala.
Original source: Business Wire (press release)