IDB to Fund Housing Program in El Salvador

Slum upgrading and low-income subsidies will be the focus of the Inter-American Development Bank's housing program in El Salvador.

The second phase of a project launched in 2001, the US$70 million initiative also aims to support the legalization of informal settlements and strengthening of the Vice-Ministry of Housing.

According to an IDB team leader, the bank expects to resume discussions with newly-appointed housing ministry officials in the next few months. The project is slated for board approval in 2010.

A barrage of disasters, including two devastating earthquakes in 2001, left thousands of people homeless and exacerbated the gaping housing deficit in the country.

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