New Haiti HOME Effort Seeks to Connect Private Developers with Investors from Haitian Diaspora
Activity designed to pave the way for future affordable housing growth
August 27, 2020
MADISON, Wis.—World Council of Credit Unions’ (WOCCU) Haiti Home Ownership and Mortgage Expansion (HOME) Project has launched a new investment raising vehicle for the Haitian affordable housing sector.
Haiti HOME, a USAID-funded activity, has identified Delphin Investments’ Caribbean Resilience Fund to lead an effort designed to ensure Haiti’s affordable housing sector continues to grow once the HOME Project concludes at the end of 2020.
Specifically, HOME will conduct a review of housing developers and ultimately recommend the two that are best suited to attract investments from the Haitian diaspora communities living in the United States and Canada.
The HOME Project will also seek to capitalize on the connections made during its Haitian Diaspora Investment Seminars held in late 2019 in Boston, Atlanta, New York, Miami and Montreal. Any investments would be used to continue the growth of the affordable housing sector in Haiti—even after the HOME Project concludes.
“Along with identifying development partners, Delphin Investments’ Caribbean Resilience Fund will also work with those developers to ensure their plans are attractive to investors, while mitigating any risks for both sides,” said Claude Clodomir, Chief of Party for the HOME Project.
Delphin Investments’ Caribbean Resilience Fund is also comprised of professionals from the Haitian diaspora based in the United States.
“Through this partnership, the HOME team seeks to generate systemic change in the housing market by lowering the supply-side constraints housing developers typically face in Haiti and establishing a flow of affordable housing investment for years to come,” said Clodomir.
World Council of Credit Unions is the global trade association and development platform for credit unions. World Council promotes the sustainable development of credit unions and other financial cooperatives around the world to empower people through access to high quality and affordable financial services. World Council advocates on behalf of the global credit union system before international organizations and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen credit unions' financial performance and increase their outreach.
World Council has implemented 300+ technical assistance programs in 89 countries. Worldwide, 85,400 credit unions in 118 countries serve 274 million people. Learn more about World Council's impact around the world at www.woccu.org.