The housing programme was implemented in collaboration between the Autonómia Foundation, Habitat for Humanity and Mikrohitel Zrt., with support from the Open Society Institute and the Levi Strauss Foundation.
The aim of the programme was to strengthen financial awareness and more systematic financial management in low-income households. The programme was based on the IDA (Individual Development Account) method, which is popular in the United States: participants saved money on a monthly basis in their own bank accounts, and at the end of the savings period, this was matched by a grant of the same amount, helping them to achieve their savings goals. A condition for receiving the grant was participation in the financial and technical training courses forming part of the programme.
The savings could only be used for housing purposes, specifically to improve the comfort of the savers’ properties, maintain their condition or enhance energy efficiency. In addition to financial assistance, participants also received free technical advice provided by Habitat for Humanity Hungary.
In those municipalities where the local authority was willing to act as guarantor for one-third of the loans granted in the municipality, households participating in the programme were also able to apply for a loan provided by Mikrohitel Zrt.
The target group consisted of low-income families and young adults leaving care, who did not have access to bank loans and lacked financial literacy.
| Sourcing | 300 000 USD |
| Budget | 57000000 |
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