The 2022 Lab instrument Green, Affordable Housing Finance (GAHF) has secured funding from the SDG Impact Finance Initiative (SIFI) which seeks to advance measurable progress in developing countries towards the achievement of the UN Sustainable Development Goals (UN SDGs) by mobilizing new capital through innovative finance solutions and collaboration between public and private partners.
Developed by Reall, GAHF deploys construction and mortgage loan guarantees alongside targeted enabling interventions to foster a locally driven and self-sustaining affordable housing finance ecosystem. The instrument’s pilot is set to launch in Kenya.
The SIFI funding will be key to helping Reall scale up its efforts towards sustainable development, catalyzing positive change and fostering empowerment in the realm of affordable housing. Going forward, Reall will be focusing on embedding gender in its approach, testing the feasibility of the instrument design, and working with partners and financial institutions to develop and prepare affordable green housing and alternative credit assessment projects as part of its pipeline development process.
The initiative is managed by Convergence Blended Finance and funded by the State Secretariat for Economic Affairs (SECO), the Swiss Agency for Development and Cooperation (SDC), the UBS Optimus Foundation, and the Credit Suisse Foundation.