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Mortgage financing program announced in Palestine

Funding provided by Palestine Investment Fund, the US government agency, OPIC, the International Finance Corp, the World Bank and regional banks.

June 4, 2010 9:37 by

A new $500 million mortgage finance program is planned for Palestine, reported Friday.

The program, with support of the World Bank, the IFC, and USAID will help provide mortgage financing and more affordable housing in Palestine.

The availability of mortgage financing is expected to double the number of Palestinian families able to purchase homes, the report said. The fund will offer long term mortgages with fixed rate and variable rate loans with terms of up to 25 years.

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