United States – Africa Mortgage Market Initiative

Announced by President Bush in July 2003

Goal: Help African countries develop sustainable primary, and if
possible secondary, mortgage systems

How is the USA helping?

- Refocus development policy toward housing finance

- Fund housing finance programs (USAID, OPIC)

- Technical assistance (Treasury, Ginnie Mae, Housing & USAID)

Engage the public and private sectors for market oriented solutions to
housing finance

Accomplishments to-date:

- 20 projects in nine countries.

- Projects include guarantees for the construction of housing, long-term
funding for mortgages and more importantly, technical assistance to
develop the legal framework and institutions needed for strong mortgage
markets