Almost 3 billion people around the world, approximately 40% of the global population, will need housing by 2030. They will also require basic infrastructure and other essential services such as adequate sewage systems. This figure facilitated by UN Habitat, confirms how necessary it is to promote sustainable housing solutions for the benefit of the more vulnerable segments of the population.
According to the Dominican Republic Economics Ministry, housing deficit in 2010 was calculated to be around 1,360,000 units. Aiming to help solve this situation and at the same time improve the living standards of low-income families, Banco Adopem and Habitat for Humanity agreed to collaboratively launch the Eco Vivienda Adopem (Adopem Eco-Housing) project, an initiative designed to finance and endorse green housing in rural areas as well as to develop financial products and services for this end.
Habitat for Humanity will conduct a study in the provinces of Hato Mayor, Barahona, Jarabacoa, La Vega and Monte Plata which would serve as basis for designing the said financial services, tailored for people living under vulnerable conditions.
The financial and technical support from ADA-REDCAMIF-REDOMIF will determine which areas will receive financing for housing projects, where sustainable measures will be applied to make the most out of the available resources (solar energy, rain water, energy-saving light bulbs, etc).
Banco Adopem is the only regulated financial institution in the Dominican Republic which offers an eco-sustainable loan, also called Créditos Verdes (Green Loans), in line with the sustainability strategy driven by the BBVA Microfinance Foundation.
Adopem Eco-Housing is an extensión of the Finanzas Rurales y Ambiente program (Rural and Environmental Finance), framed within the “Aggregated social value improvement in Microfinance” project, sponsored by REDCAMIF and ADA to improve the lives of rural inhabitants through inclusive financial instruments.