We have some great news to share with you! The Kurdistan Regional Government has just announced that it will begin offering no interest home loans to qualifying families to renovate or build a new home. It will loan up to $17,000 to a single family who qualifies for the loan. The repayment time will be extended to 20 years in some cases. This will give the family ample time to work and repay the loan.
This comes as wonderful news to EFI considering this was the whole purpose of our organization. This was a pressing housing need that no one was addressing, so we decided to do something about it! We have been blessed to raise enough funds to affect 6 different families in Iraq. As the money is repaid we will be able to impact more families in need.
We are now assessing how this money can best be used to impact families; especially now that the no-interest home loan needs are being addressed by the government. EFI’s board of directors looks forward to announcing our future direction for the organization. Check back soon to hear more!
As always, we thank you for your interest and support. We would also like to send a huge thank you from the partner families, their lives have been changed in amazing ways because of you!