Microfinance Focus, January 17, 2012: U.S. Government’s development finance institution - Overseas Private Investment Corporation (OPIC) will make available an initial capital of USD 45 million for the funding of the MicroBuild Fund which seeks to accelerate the growth of housing microfinance.

MicroBuild is a Habitat for Humanity International initiative that will facilitate BOP housing solution through microfinance delivery channels.

The agreement was signed between Habitat CEO Jonathan Reckford, OPIC President Elizabeth Littlefield and MicroBuild chairman Mike Carscaddon.

The investment will be in the form of a loan facility with a maturity of ten years to the fund that will be majority owned by Habitat for Humanity International. Triple Jump, the Netherlands based asset manager, will act as Fund Manager of MicroBuild.

The purpose of the MicroBuild Fund is to provide a source of long term social investment capital for financial service retailers who target the poor to expand their housing microfinance portfolios. It aims to demonstrate to the microfinance sector the viability and scale opportunity of housing microfinance.

It will also provide leading technical assistance in the design and refinement of housing products, and to steward and share best practices with the sector as they emerge.

Full closing of the MicroBuild Fund is expected at the end of first quarter of 2012.