The Peruvian Government has injected additional funds worth S/.300 million (about US$100 million) into social housing programs, Housing, Construction and Sanitation Minister Milton von Hesse announced.
The move aims at boosting the economic sector's activity, the Minister indicated.
The head of the Ministry went on to add the said resources are to be invested in the “Bono Familiar de Vivienda” (Family Housing Bond-BFH), a direct and free-of-charge subsidy the State grants to low-income families in the framework of the Techo Propio (Own Roof) program.
Own Roof program is aimed at families, whose monthly incomes are below S/.1,860 (about US$ 600), but need to acquire, build a home or carry out improvement works on their already-existing ones.
The new budget will now allow at least an extra 10,000 BFHs to be granted, compared to the amount programmed at the beginning of the year. The BFH face value varies according to each family needs: To buy a house, the bond is worth US$4,920 or US$6,150; to build a home, US$5,781 or US$4,305; or to carry out improvement works, US$2,829.
Since August 2011 to date, an investment worth around US$1.996 billion has enabled the government to finance over 147,000 houses. The move has benefited over 600,000 people.
(END) NDP/RES/MVB