Bulgaria’s housing sector provides a window into the broader issues of the country’s social, political, and economic transformation in the Europe and Central Asia (ECA) region over the last 25 years.
... See More + The country’s transition has been difficult, and the Government of Bulgaria (GOB) has played an active role in reforming the housing sector – starting in 2004 with a Housing Strategy, to more recent large scale initiatives to improve energy efficiency in residential buildings. Still, many challenges remain, and while these challenges are not unique to the region, they appear to be more acute in Bulgaria. Bulgaria consolidated its transition after most other transition economies, with the result that, unlike other reformers, sustained economic growth took hold almost a decade later than it did elsewhere. Indeed, it took 14 years for real per capita income to return to pre-transition levels. The country suffered through hyperinflation, a financial crisis, and considerable political turmoil, falling increasingly behind other reformers such as Hungary or Poland. Until the end of the century, Bulgaria remained locked in a lower income status, and its economic performance diverged from other reformers and its European Union (EU) neighbors. For example, if it had been able to stabilize in, say, 5 years rather than the 11 it took (1989-2000), and grow at the average rate, its per capita income would be 40 percent higher than it is now.One of the main reasons Bulgaria weathered the downturn badly was the bursting of its housing bubble; it is still experiencing one of the deepest and longest persisting housing downturns among transition countries. This downturn has been one of the main contributors to the increase in poverty that occurred post-2008 as construction employment – one of the largest employers of low-skilled workers – plummeted. Moreover, unlike the usual underlying causes of housing bubbles, in Bulgaria the bubble was not caused by too much mortgage credit; the country continues to have the lowest share of mortgage debt among transition countries. Instead, as this report will show, more fundamental housing market obstacles are at play. Sectoral distortions slow the sector, increase costs, reduce employment, and contribute to the country’s inability to close the income gap with the EU-28.
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Bulgaria’s housing sector provides a window into the broader issues of the country’s social, political, and economic transformation in the Europe and Central Asia (ECA) region over the last 25 years.
... See More + The country’s transition has been difficult, and the Government of Bulgaria (GOB) has played an active role in reforming the housing sector – starting in 2004 with a Housing Strategy, to more recent large scale initiatives to improve energy efficiency in residential buildings. Still, many challenges remain, and while these challenges are not unique to the region, they appear to be more acute in Bulgaria. Bulgaria consolidated its transition after most other transition economies, with the result that, unlike other reformers, sustained economic growth took hold almost a decade later than it did elsewhere. Indeed, it took 14 years for real per capita income to return to pre-transition levels. The country suffered through hyperinflation, a financial crisis, and considerable political turmoil, falling increasingly behind other reformers such as Hungary or Poland. Until the end of the century, Bulgaria remained locked in a lower income status, and its economic performance diverged from other reformers and its European Union (EU) neighbors. For example, if it had been able to stabilize in, say, 5 years rather than the 11 it took (1989-2000), and grow at the average rate, its per capita income would be 40 percent higher than it is now.One of the main reasons Bulgaria weathered the downturn badly was the bursting of its housing bubble; it is still experiencing one of the deepest and longest persisting housing downturns among transition countries. This downturn has been one of the main contributors to the increase in poverty that occurred post-2008 as construction employment – one of the largest employers of low-skilled workers – plummeted. Moreover, unlike the usual underlying causes of housing bubbles, in Bulgaria the bubble was not caused by too much mortgage credit; the country continues to have the lowest share of mortgage debt among transition countries. Instead, as this report will show, more fundamental housing market obstacles are at play. Sectoral distortions slow the sector, increase costs, reduce employment, and contribute to the country’s inability to close the income gap with the EU-28.
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Affordable housing will be instrumental to helping Vietnam achieve its goals for increasing productivity and inclusive urban growth. Since Doi Moi, the country has experienced impressive economic growth, averaged at 7.4 percent per annum from 1990 to 2008, lowering to an average of 6 percent per annum from 2007 to 2013.
... See More + Strong economic growth has supported a substantial reduction in poverty, from 58 percent in 1993 to 17 percent in 20121. Yet, the country has remained largely rural, with more than half of its population working in the agricultural sector, which only contributed 17 percent of GDP in 20142. In some countries, urbanization has been used as a tool to accelerate economic growth and poverty reduction. As Vietnam aims to maintain a high growth rate, supporting urbanization, where cities contribute a growing share of jobs and GDP, will be an important measure. This structural shift will drive population growth and new demand for housing in cities, for which quality and affordable housing options in well-serviced and connected settlements will be needed. Areas of particular importance in the Law is support toward self-built housing, the active participation of the private sector, addressing the shortage of affordable rental housing as well as high demand for housing from low income groups, especially workers in industrial zones of large cities. This report, which includes a comprehensive assessment and roadmap for affordable housing in Vietnam, recommends the following key messages moving forward: increase investment, Prepare Three Flagship Initiatives under an umbrella National Affordable Housing Program, Institutional Strengthening, Land Tax Reform, and Create an Enabling Environment for Affordable Housing. Moving forward, design of the market-oriented measures described above will require intensive and careful consultation and engagement with all housing sector actors, particularly the private sector. Private sector will need to play an active role in the early preparation to ensure their participation and commitment that carries through to implementation of policy measures on the financing and supply side.
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Affordable housing will be instrumental to helping Vietnam achieve its goals for increasing productivity and inclusive urban growth. Since Doi Moi, the country has experienced impressive economic growth, averaged at 7.4 percent per annum from 1990 to 2008, lowering to an average of 6 percent per annum from 2007 to 2013.
... See More + Strong economic growth has supported a substantial reduction in poverty, from 58 percent in 1993 to 17 percent in 20121. Yet, the country has remained largely rural, with more than half of its population working in the agricultural sector, which only contributed 17 percent of GDP in 20142. In some countries, urbanization has been used as a tool to accelerate economic growth and poverty reduction. As Vietnam aims to maintain a high growth rate, supporting urbanization, where cities contribute a growing share of jobs and GDP, will be an important measure. This structural shift will drive population growth and new demand for housing in cities, for which quality and affordable housing options in well-serviced and connected settlements will be needed. Areas of particular importance in the Law is support toward self-built housing, the active participation of the private sector, addressing the shortage of affordable rental housing as well as high demand for housing from low income groups, especially workers in industrial zones of large cities. This report, which includes a comprehensive assessment and roadmap for affordable housing in Vietnam, recommends the following key messages moving forward: increase investment, Prepare Three Flagship Initiatives under an umbrella National Affordable Housing Program, Institutional Strengthening, Land Tax Reform, and Create an Enabling Environment for Affordable Housing. Moving forward, design of the market-oriented measures described above will require intensive and careful consultation and engagement with all housing sector actors, particularly the private sector. Private sector will need to play an active role in the early preparation to ensure their participation and commitment that carries through to implementation of policy measures on the financing and supply side.
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The Government of Romania (GOR) has asked the World Bank to support its efforts to harmonizepublic investments financed by the European Union and from the State budget.
... See More + The objectives of thiswork are to encourage synergies, deliver stronger impact, and promote Romania's drive towardssustainable and inclusive development.This work includes the following four components: i. Alignment and coordination of strategies and processes for public investments monitored and/or implemented by the Ministry of Regional Development and Public Administration (MRDPA) and other relevant public stakeholders; ii. Improvement of the assessment methodology for the portfolio of projects managed by the General Directorate for Regional Development for optimal prioritization and preparation of potential EU-funded investments for the 2014-2020 period; iii. Dissemination of more cost effective project designs through innovative technologies; iv. Support for defining a comprehensive strategy in the housing sector. This Report corresponds to the fourth aforementioned component – i.e., support for defining a comprehensive strategy in the housing sector. As part of this work, a detailed housing sector assessment is being carried out at a national scale. The housing study is envisaged as a diagnostic that presents a broad-brush picture of the country's housing market, both urban and rural, and makes strategic policy recommendations to make it more responsive to the needs of various population groups and income segments, particularly the lower income households.This report constitutes two main Parts, A and B.Part A presents the Situation Analysis, which includes a broad assessment of the housing sector in Romania. Sections II through VII address key themes in the Romanian housing sector, which include: Institutions, Laws, and Government Programs,Housing Characteristics, Housing Market, Housing Affordability, Housing for the Poor and Marginalized, Energy Efficiency and Environmental Sustainability. Part B provides the foundations of a National Housing Strategy for Romania based on the thematic areas listed above. Section VIII provides the key findings of this housing diagnostic. Section IX lays outin detail the key recommendations, including policy measures and actions to be taken to reformRomania’s housing sector.
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The Government of Romania (GOR) has asked the World Bank to support its efforts to harmonizepublic investments financed by the European Union and from the State budget.
... See More + The objectives of thiswork are to encourage synergies, deliver stronger impact, and promote Romania's drive towardssustainable and inclusive development.This work includes the following four components: i. Alignment and coordination of strategies and processes for public investments monitored and/or implemented by the Ministry of Regional Development and Public Administration (MRDPA) and other relevant public stakeholders; ii. Improvement of the assessment methodology for the portfolio of projects managed by the General Directorate for Regional Development for optimal prioritization and preparation of potential EU-funded investments for the 2014-2020 period; iii. Dissemination of more cost effective project designs through innovative technologies; iv. Support for defining a comprehensive strategy in the housing sector. This Report corresponds to the fourth aforementioned component – i.e., support for defining a comprehensive strategy in the housing sector. As part of this work, a detailed housing sector assessment is being carried out at a national scale. The housing study is envisaged as a diagnostic that presents a broad-brush picture of the country's housing market, both urban and rural, and makes strategic policy recommendations to make it more responsive to the needs of various population groups and income segments, particularly the lower income households.This report constitutes two main Parts, A and B.Part A presents the Situation Analysis, which includes a broad assessment of the housing sector in Romania. Sections II through VII address key themes in the Romanian housing sector, which include: Institutions, Laws, and Government Programs,Housing Characteristics, Housing Market, Housing Affordability, Housing for the Poor and Marginalized, Energy Efficiency and Environmental Sustainability. Part B provides the foundations of a National Housing Strategy for Romania based on the thematic areas listed above. Section VIII provides the key findings of this housing diagnostic. Section IX lays outin detail the key recommendations, including policy measures and actions to be taken to reformRomania’s housing sector.
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The Government of Romania (GOR) has asked the World Bank to support its efforts to harmonizepublic investments financed by the European Union and from the State budget.
... See More + The objectives of thiswork are to encourage synergies, deliver stronger impact, and promote Romania's drive towardssustainable and inclusive development.This work includes the following four components: i. Alignment and coordination of strategies and processes for public investments monitored and/or implemented by the Ministry of Regional Development and Public Administration (MRDPA) and other relevant public stakeholders; ii. Improvement of the assessment methodology for the portfolio of projects managed by the General Directorate for Regional Development for optimal prioritization and preparation of potential EU-funded investments for the 2014-2020 period; iii. Dissemination of more cost effective project designs through innovative technologies; iv. Support for defining a comprehensive strategy in the housing sector. This Report corresponds to the fourth aforementioned component – i.e., support for defining a comprehensive strategy in the housing sector. As part of this work, a detailed housing sector assessment is being carried out at a national scale. The housing study is envisaged as a diagnostic that presents a broad-brush picture of the country's housing market, both urban and rural, and makes strategic policy recommendations to make it more responsive to the needs of various population groups and income segments, particularly the lower income households.This report constitutes two main Parts, A and B.Part A presents the Situation Analysis, which includes a broad assessment of the housing sector in Romania. Sections II through VII address key themes in the Romanian housing sector, which include: Institutions, Laws, and Government Programs,Housing Characteristics, Housing Market, Housing Affordability, Housing for the Poor and Marginalized, Energy Efficiency and Environmental Sustainability. Part B provides the foundations of a National Housing Strategy for Romania based on the thematic areas listed above. Section VIII provides the key findings of this housing diagnostic. Section IX lays outin detail the key recommendations, including policy measures and actions to be taken to reformRomania’s housing sector.
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The Government of Romania (GOR) has asked the World Bank to support its efforts to harmonizepublic investments financed by the European Union and from the State budget.
... See More + The objectives of thiswork are to encourage synergies, deliver stronger impact, and promote Romania's drive towardssustainable and inclusive development.This work includes the following four components: i. Alignment and coordination of strategies and processes for public investments monitored and/or implemented by the Ministry of Regional Development and Public Administration (MRDPA) and other relevant public stakeholders; ii. Improvement of the assessment methodology for the portfolio of projects managed by the General Directorate for Regional Development for optimal prioritization and preparation of potential EU-funded investments for the 2014-2020 period; iii. Dissemination of more cost effective project designs through innovative technologies; iv. Support for defining a comprehensive strategy in the housing sector. This Report corresponds to the fourth aforementioned component – i.e., support for defining a comprehensive strategy in the housing sector. As part of this work, a detailed housing sector assessment is being carried out at a national scale. The housing study is envisaged as a diagnostic that presents a broad-brush picture of the country's housing market, both urban and rural, and makes strategic policy recommendations to make it more responsive to the needs of various population groups and income segments, particularly the lower income households.This report constitutes two main Parts, A and B.Part A presents the Situation Analysis, which includes a broad assessment of the housing sector in Romania. Sections II through VII address key themes in the Romanian housing sector, which include: Institutions, Laws, and Government Programs,Housing Characteristics, Housing Market, Housing Affordability, Housing for the Poor and Marginalized, Energy Efficiency and Environmental Sustainability. Part B provides the foundations of a National Housing Strategy for Romania based on the thematic areas listed above. Section VIII provides the key findings of this housing diagnostic. Section IX lays outin detail the key recommendations, including policy measures and actions to be taken to reformRomania’s housing sector.
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The project development objective of the Inclusive Housing Finance Program-for-Results is to improve the affordability of formal housing for low-income households in the Arab Republic of Egypt and to strengthen the Social Housing Fund's capacity to design policies and coordinate programs in the social housing sector.
... See More + The SHF has the mandate to finance, manage and release social housing units using dedicated resources from multiple sources, and provide commercial and vocational services necessary for these housing projects to be sustainable. The SHF will work on improving the housing sector, through: (i) the consolidation and coordination of different housing entities, and social housing functions of the various agencies within and outside the Ministry; (ii) the introduction and formulation of legislation, decrees, regulations and procedures to support social housing, as well as the unification of existing ones; (iii) the development of new social housing programs for rental and ownership; and (iv) the improvement of the management systems for housing programs. The total number of Program beneficiaries is expected to reach more than 3.6 million individuals or close to 830,000 households with an average household size of 4.3 individuals. There are five key results areas linked to this project and are as follows: (1) strengthening governance and institutional set-up of the housing sector, (2) enhancing transparency and accountability of social housing programs, (3) improving access to affordable housing, (4) promoting well located social housing, and (5) promoting private sector participation in low-income housing.
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The present inclusive housing finance program will assist the Government of Egypt to improve the performance of the housing sector, especially increasing access to affordable housing to low-income households.
... See More + It will do this by strategically consolidating housing entities and programs under the umbrella of the newly established social housing fund (SHF). This will be done in order to achieve improved performance and efficiency, as designing and implementing new programs will address gaps in the current menu of housing programs for low-income households. The SHF will work on improving the housing sector, through: (i) the consolidation and coordination of different housing entities, and social housing functions of the various agencies within and outside the ministry; (ii) the introduction and formulation of legislation, decrees, regulations, and procedures to support social housing, as well as the unification of existing ones; (iii) the development of new social housing programs for rental and ownership; and (iv) the improvement of the management systems for housing programs, which will be done primarily through building the institutional capacity at the SHF; the establishment of research capabilities and monitoring and evaluation (M and E) systems; the maintenance of a complete social housing project and beneficiary data base; establishment of a transparency and accountability mechanism for the social housing sector; and the collection of land and social housing market data.
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The development objective of the Inclusive Housing Finance Program Project for Egypt is to strengthen the government's capacity to deliver housing solutions to low-income households through supporting the overall institutional and policy framework of the social housing program (SHP) and assisting the design and financing of demand-side programs that will come under the umbrella of the SHP.
... See More + Some of the negative impacts and mitigation measures include: (1) ensuring clear boundaries are maintenance during implementation between supply-side and demand side; (2) designing and implementing context sensitive information sharing mechanisms; and (3) designing and implementing communication and reaching out plans.
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On November 8, 2013, Typhoon Yolanda made landfall in the Central Philippines. This disaster affected 7,110,958 out of 96.71 million persons in the Philippines, or approximately 7 percent of the population.
... See More + More than one million homes (1,012,790) were destroyed (518,878) or suffered major damage (493,912). The highest level of damage was in Region VIII, where Tacloban is located. 95 percent of the families located in Tacloban were displaced. The proposal submitted under the Innovation Grant program for ‘housing displaced people: a simple, innovative solution,’ was submitted eight days before the Typhoon struck. The original intent was to assist the Philippines with a rental housing assistance tool modeled on a successful program in Haiti that could be used in the event the country was hit with another major disaster. It was also intended to guide Jordan with its rental-housing program for cross border refugees. With the urgent need created by Typhoon Yolanda and a challenging security situation in Jordan, the Philippines became the sole focus of the grant.
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