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DOCUEI RESOEi
07155 - (R2507521]
Agency for International Development's Housing investment
Guaranty Program. ID-78-44; 8-171526. September 4, 1978. 63 pp.
+ 3 appendices (11 pp.).
Report to the Congress; by ilmer B. Staats, Comptroller General.
Isst- Area: International Economic and military Programs: US..
Development Assistance Overseas (603).
Ccntact: International Div.
budgit Function: International Affairs: Foreign 1cononic and
Financial assistance (151).
Organiiainn Concerned: Department of States Agency for
Intarnational Development.
Congressional Relevance: House committee on International
Relations; Senate Committee on Foreign Relations; Congress.
Authority: Foreign Assistance Act of 1973. International
Development and Food Assistance Act of 1975. Foreign
Assistance Act of 1974. B. Sept. 95-240.
Under the Agency for International Development's
(AID's) Housing Inveetment Guaranty Program (BIG), U.S. private
lenders provide long-tore financing at commercial interest rates
Zor housing projects undertaken by developing countries with AID
assistance. The U.S. Government provides a full faith and
credit guaranty of repayment of principal and interest. Since
its inception in 1976. the BIG program has made more than *1
billion available te finance housing activities in 37 countries.
AID has sought to introduce nee, low-cost approaches to
providing shelter and to finance the construction of housin;
affordakle to groups at or below the sedian inceme of the
recipient country. Findings/:onclusions: Income levels of
expected program beneficiaries generally range from the 15th to
the 50th income percentiles. The very poorest income levols and
those groups outside the income economy altogether can generally
be reached only vith direct humanitarian assistance. AIDes
accomplishments in the institntion-building area hOve been
primarily to help developing countries establish housing
policies geared to serving low-income housing needs and local
ititutions capable of administering these policies. AID has
not, hovever, been able to contribute to the development of
housing finance systems to the poiut of assuring their ability
to continue low-income housing efforts without the long-term,
lov-i !terest loans provided by AID. The RIG program has had
genorally positive short-term impact on economic activity in
reciient countries and a positive social imFact in terms of
satJzfyinq the dunand of low-income families for hor* ownership.
Successful proqram management requires a separate field
organization in addition to the centralized Washington staff.
Recommendations: The Administrator of AID should: continue to
explore opportunities for the use of U.S. funds in poorer
countries to stimulate self-sustaining shelter improvement](ViewImageLocal?handle=hein.gao/gaobaayab0001&div=1&collection=&method=preview&ext=.png&size=3)