MADISON, Wis.—The World Council of Credit Unions is reporting its 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, according to WOCCU.
Specifically, the World Council said 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, WOCCU said. Any investments would be used to continue the growth of the affordable housing sector in Haiti—even after the HOME Project concludes, the organization added.
Creating ‘Attractive Plans’
“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.