INNOVATIVE FINANCIAL MARKET DEVELOPMENT
WOCCU’s community-based approach supports the research, discovery and design of innovative financial solutions with our global partners.
What We Do
A look at our different interventions
WOCCU is using Pay-for-Performance (P4P)-based incentives to catalyze finance in the Haitian housing market through our USAID/Haiti Home Ownership and Mortgage Expansion (HOME) Project. The P4P mechanism has helped to overcome market bottlenecks in access to affordable housing finance and development. In 2017, HOME’s P4P approach enabled the mobilization of US$ 9 million (with total private capital committed of US$ 24.5 million), including owner-led housing microfinance products, developer-led housing infrastructure investments and mortgage products. P4P is an approach that provides incentive awards for results achieved. Project sponsors are awarded for achieving specific objectives and changing behavior, thus switching the focus of payment for spending on inputs to pay for results. This incentive structure empowers project sponsors to think creatively about risk mitigation and improvements to human resources and organizational efficiencies.