This is an ongoing housing programme established in 1976, with 60,000 dwelling units completed to date. The houses are made of prefabricated concrete panels, measure 36 m² and can be assembled in 6 hours on a pre-prepared site. The roof is made of large corrugated fibre-cement modules on wooden rafters. An adequate financing structure is provided to ensure that families can afford to pay the $1,600 cost. SERVIVIENDA provides guarantee funds to commercial banks that provide short-term credit (3-5 years) requiring a repayment of 30 per cent of minimum wage, (less than the families paid for slum housing). Ongoing help is provided to assist families in improving their social, educational and recreational situation.
NGO, local community