United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office National Security and International Affairs Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1995-06-02 monographic deposited born digital 90 p. GA 1.13:NSIAD-95-108 https://www.govinfo.gov/app/details/GAOREPORTS-NSIAD-95-108 P0b002ee18038121e f:ns95108 DGPO 2010-08-12 2011-03-23 GAOREPORTS-NSIAD-95-108 machine generated eng fdlp REPORT GAOREPORTS-NSIAD-95-108 NSIAD-95-108 Technical assistance Housing programs Loan defaults Foreign loans Investments abroad International economic relations Foreign economic assistance Foreign economic development credit Developing countries Foreign aid programs AID Housing Guaranty Program Chapter Report NSIAD

Since 1961, the Agency for International Development's Housing Guaranty Program has guarantied more than $2.7 billion in loans in 44 countries for home construction, mortgages, home improvements, urban infrastructure, and other shelter projects. A fundamental program goal is to increase housing for low-income families in developing countries by motivating local institutions to provide investment capital and other resources. However, Congress should consider terminating the program because it has failed to spur private-sector investment in low-income housing in developing countries, its benefits often go to higher-income persons, and its loan defaults may ultimately cost the U.S. government as much as $1 billion. Moreover, program assistance has gone increasingly to creditworthy developing nations that have ready access to international financing. GAO summarized this report in testimony before Congress; see: Foreign Housing Guaranty Program: Goals Are Not Achieved and Financial Condition Is Poor, by Frank C. Conahan, Senior Defense and International Affairs Advisor to the Comptroller General, before the Subcommittee on International Economic Policy and Trade, House Committee on International Relations. GAO/T-NSIAD-95-181, June 28, 1995 (11 pages). https://www.govinfo.gov/content/pkg/GAOREPORTS-NSIAD-95-108/html/GAOREPORTS-NSIAD-95-108.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-NSIAD-95-108/pdf/GAOREPORTS-NSIAD-95-108.pdf GAO/NSIAD-95-108 https://www.govinfo.gov/app/details/GAOREPORTS-NSIAD-95-108 Chapter Report GAO/NSIAD-95-108; Foreign Housing Guaranty Program: Financial Condition Is Poor and Goals Are Not Achieved; Technical assistance Housing programs Loan defaults Foreign loans Investments abroad International economic relations Foreign economic assistance Foreign economic development credit Developing countries Foreign aid programs AID Housing Guaranty Program Title 22 Section 2151 Title 22 Section 2181 Title 22 Section 2182(a) 22 U.S.C. 2151 22 U.S.C. 2181 22 U.S.C. 2182(a)