World Bank: Housing finance in emerging markets prospering despite crisis

08:40, June 09, 2010      

Email | Print | Subscribe | Comments | Forum 

Housing finance is prospering in emerging markets despite the economic slowdown and the mortgage crisis in many developed economies, according to a report released by the World Bank on Tuesday.

According to the report, lessons from the crisis will impact the way finance for housing is provided in every country, but its development remains critical and access to housing finance continues to be a challenge for all emerging economies.

"The existing housing stock and urban infrastructure is already coming under severe pressure, resulting in the spread of slums and damage to economic growth," said Loic Chiquier, Manager of the World Bank's Non-Bank Financial Institutions Group. "Substantial investment will be required in the coming years just to keep up with growing demand."

India, for example, expects to have 590 million people living in cities by 2030, twice the current population of the United States.

The World Bank Group has multiple projects in India and around the world working to address these needs.

In India, the concept of "mini-mortgages" has been introduced where products are offered to low and lower-middle income borrowers who are creditworthy but do not have access to housing finance due, for example, to undocumented or irregular income.

【1】 【2】


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Giant red lantern lights up in Tiananmen Square to celebrate the coming National Day on Oct. 1. (Xinhua/Li Xin)
  • A ceremony is held in Taipei, southeast China's Taiwan, on Sept. 28, 2011, to commemorate the 2,562nd birthday of Confucius (551-479 BC), a Chinese thinker, educationist and philosopher. (Xinhua/Wu Ching-teng)
  • The world's first Boeing 787 Dreamliner for delivery arrives at Haneda airport in Tokyo, capital of Japan, on Sept. 28, 2011. The Boeing 787 Dreamliner, whose buyer is All Nippon Airways (ANA), will implement a flight of ANA on Oct. 26 from Tokyo's Narita Airport to Hong Kong in south China. (Xinhua/Ji Chunpeng)
  • A Libyan National Transitional Council (NTC) fighter shows what is believed to be human jawbone found inside a mass grave near Abu Salim prison in Tripoli, Libya, Spet. 27, 2011. The NTC on Sunday said they had found a mass grave containing the bodies of 1,270 people killed by Gaddafi's security forces in a 1996 massacre at Abu Salim prison in southern Tripoli. (Xinhua/Li Muzi)
  • Rescue workers and local residents search for survivors after a building collapsed in old Delhi, India, Sept. 27, 2011. At least 10 people were killed and 35 injured when an old three-storey building collapsed. More than a dozen people are still feared trapped under the debris, police said. (Xinhua/Partha Sarkar)
  • A visitor has flying experience in the windmill castle of Jinshitan National Holiday resort in Dalian, northeast China's Liaoning Province, Sept. 27, 2011. The castle is a 23-meter-high building with 21 meters in diameter. The castle uses wind tunnel to make objects floating in the air. It is the first indoor stadium in China, which enables people to have flying experience. (Xinhua/Zhang Chunlei)
Hot Forum Discussion