| Wednesday, January 30, 2008 |
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| Contact us:- Editor The Bottom Line |
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People in slums are bankable New public private partnership takes up the challenge A beginning
of a new Public Private partnership in Sri Lanka with the launch
of LFSUS a non profit company to bridge the gap between the slum
dwellers, MFI’s and the domestic capital market. The
Emerging Markets Group, London (EMG) an international development
consulting firm has been engaged by UN-Habitat to provide the needed
technical and management input to the initiatives in Sri Lanka. LFSUS
is a company registered as a non profit company under section 21
of the Company’s Act, in order to uplift the living standards
of slum dwellers through the development of bankable projects that
promote affordable housing for low-income households. The board
of directors of LFSUS is a combination of distinguished professionals
across the government as well as private sector, bringing together
a wealth of experience and expertise to this unique endeavor.
The Objectives b)
To provide full, partial, or other forms of guarantees to banks
or other funding sources to secure lending to micro finance institutions,
community based organisations or such other similar institutions
for the purpose of housing finance for low income groups.
c)
To facilitate low income earners to access housing finance directly
or indirectly from banking sources. d)
To facilitate intermediaries such as micro finance institutions,
community based organisations or similar entities to access funding
for housing finance from banking or market based sources. e)
To facilitate the exchange and sharing of information and experience
in financing slum upgrading and settlement development in co-operation
with a wider advisory network of practitioners and policy makers. International
advice and support for LFSUS is channelled through EMG the Pilot
Team of SUF (Slum Upgrading Facility), a programme that is being
carried out in five countries including Sri Lanka, Indonesia, Ghana,
Kenya and Tanzania, assisting governments in four key areas which
are co-ordination of technical assistance, seeding capital initiatives
to develop bankable projects,, upgrading of slums and provision
of urban infrastructure. The SUF Pilot Team which includes several
international professionals in related fields envisions offering
LFSUS free consultation and management advice for the initial period,
presenting LFSUS with an invaluable opportunity to benefit from
key personnel who possess extensive experience and involvement in
Slum Upgrading. LFSUS also includes the invaluable service of NDB
Bank as its Trustee Bank for this venture that is aimed at the upgrading
of the lives of slum dwellers in key cities across Sri Lanka.
Board and Management The
board of directors of LFSUS is a combination of distinguished professionals
across the government as well as private sector, bringing together
a wealth of experience and expertise to this unique endeavour and
following are the LFSUS Board Members Chairman
of the Board |
LFSUS
(Lanka Financial Services for Underserved Settlements) a non-profit
company set up in Sri Lanka, through an MOU between the United Nations
Settlements Programme (UN-HABITAT) and the Ministry of Urban Development
and Sacred Areas Development The SUF achieves its objectives through
dedicated technical assistance and targeted credit enhancement.
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