DIG Capital Haiti: Rebuilding Homes in Haiti
Challenge: Establishing a financing facility for low-income housing in Haiti after the 2010 earthquake
Solution: OPIC provided $17 million in long-term loans to Development Innovations Group (DIG), a Maryland-based finance and development firm, in conjunction with a $6 million grant from the U.S. Agency for International Development (USAID), and $3 million from the Clinton Bush Haiti Fund.
Impact: The housing facility is helping to address a critical need for mortgage financing in Haiti, where more than 360,000 people continue to live in tents and other temporary housing following the earthquake.
The project is creating three new loan products targeting low-income borrowers including housing microfinance loans that start at $1,000 and micro-mortgages that start at $5,000. The project is also providing access to credit to the economically active poor to build, repair, improve, or expand homes, or to help business owners rebuild and re-open their businesses. It is estimated that more than 4,000 Haitian families stand to benefit from the project.
This project was profiled in 2013.