affordable-housing | February 9, 2017

Development banks back affordable mortgages in Serbia

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Fewer than seven percent of adults in emerging economies have access to housing finance, according to the International Finance Corporation.

The European Fund for Southeast Europe (EFSE) has extended a €20 million ($21.4 million) line of credit to UniCredit Bank to drive mortgage lending in Serbia.

EFSE is backed by German development bank KfW and a roster of European donors and development finance institutions.

Photo credit: UNHCR Serbia