Forum on leveraging housing finance

A forum was held on leveraging finance for housing for low income settlers in undeserved settlements in Sri Lanka yesterday at the HNB Auditorium.

Today, there is much enthusiasm from different MFIs and NGOs on developing the low income settlements.

They hope to bridge the gap between the formal financial institutes and the community, as getting access to commercial finance for low-income housing is extremely difficult for the community.

Lanka Financial Services for Undeserved Settlements (LFSUS) is a non-profit organization set up in Sri Lanka to provide credit arrangements for housing and infrastructure for undeserved settlements. LFSUS will grant money to Micro Finance Institutions while they provide financial grants to low-income families to fulfil their housing loan needs.

The purpose of setting up of LFSUS is to upgrade the quality of living conditions of low-income families said, LFSUS Chairman Chandula Abeywickrema at the introduction of LFSUS.

Several banks including the HSBC, the HNB and the People's Bank have consented to extend financial support for the program while LFSUS guarantees the repayment of the loans. HP