Philippines – Microcredit program for better living conditions

Philippines

At the end of 2012, Lafarge launched a microfinance program for affordable housing in the Philippines, enabling hundreds of people to improve their housing conditions.

 

Objectives

  • Develop a service meeting local market needs and improving the housing conditions of low-income communities.

Summary

With 50% of the population of the Philippines living in cities, demand in urban areas is immense, with millions of inhabitants living in unofficial housing settlements and neighborhoods desperately in need of repair and renovations.

At the end of 2012, Lafarge launched its microfinanceprogram for affordable housing in the Philippines, in partnership with TSPI, the country's third-largest microfinance institution. The aim is to build more houses of a higher quality for those people who lack the necessary financial resources.  

Going beyond microcredit provision, Lafarge works with contractors, architects and distributors of building materials to offer a comprehensive range of solutions to the program's beneficiaries.

Results

The program has helped more than 400 microcredit recipients so far, allowing Lafarge to introduce new customers to distributors of its building materials and to have a positive long-term impact on a whole section of society that is often overlooked. This initiative reinforces Lafarge's position and its relations with local stakeholders.