Consultancy for the Development of a Housing Project Proposal for the Saint Lucia Development Bank (SLDB) to Facilitate the Provision of Affordable Shelter and Sustainable Settlements.
Closing Date: November 16, 2023
Details:
| The Saint Lucia Development Bank (SLDB) is a body corporate re-established under the Saint Lucia Development Bank Act 2008 (the SLDB Act), whose issued shares are owned one hundred percent (100%) by the Government of Saint Lucia (GOSL). The mandate of SLDB is to mobilize and provide finance for and promote and facilitate the expansion and strengthening of the economic development of Saint Lucia. This is achieved through normal development banking activities; negotiating and accepting loans and credits; making loans and credits for development enterprises in priority areas; providing technical assistance (TA) to development enterprises; and such other things considered necessary in the pursuit of socio-economic and capital market development in Saint Lucia and the sub-region. Reports on the Poverty Assessment in Saint Lucia, suggest that there is a huge deficit in the housing stock, particularly at the low and middle-income levels. Given that affordable housing is a critical development priority, the SLDB is expected to play a pivotal role in developing an innovative and transformative housing program that will make housing more affordable and provide improved access to housing for the vulnerable. 1.02 The Bank has developed a Strategic Plan to guide its operations over the next three (3) years and is committed to delivering on its mandate in a viable and sustainable manner. Aligned with its current Strategic Plan (2022-2025), SLDB is taking steps to refocus the organization to meet its objective of becoming a more viable and competitive entity within the next three years. One of the Bank’s immediate focus is to roll out a resilient, affordable housing program to the citizens of Saint Lucia. Despite the number of players in the mortgage market and the adversarial impact of loan migration on the Bank’s income streams, there is still a considerable need for affordable housing for the vulnerable, underserved and excluded segments of the population. Affordability continues to be a major challenge for those desirous of land and home ownership. The unaffordability stems from the increasing cost of residential lots and construction. Cognizant of this binding constraint, the St. Lucia Development Bank (“SLDB”) is seeking to develop a low to middle-income housing project to target the most vulnerable and those of lesser economic means. The Bank in September of 2023 got approval for a line of credit of USD 20 million from the Republic of China, through the Taiwanese Exim Bank. The approved funding is expected to have three major effects: Enhancing the Banks’ ability to provide affordable opportunities for housing for low to middle-income earners. Enhancing the Bank’s financial performancePreserving the Bank’s Housing portfolio As such, the Bank is currently reviewing strategies and designs for the use of funds to achieve the maximum social and economic returns. |
| OBJECTIVES |
| The overall objective of this assignment is the provision of technical and financial advice to the SLDB to develop an affordable, resilient housing program that is efficient and transparent which will effectively engage the private sector and other stakeholders. |