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Is Costa Rica’s Mortgage Bank of Housing (Bahnvi) Giving Money To The Right People?

Costa Rica News – The Mortgage Bank of Housing (Bahnvi) lacks final accounts of if and how the money it provided actually reached poor families as it should have.

The institution is unaware of the final result of $32 billion provided to grant housing bonds to low income families.

That’s about half of the total money it has placed in the hands of banks, mutuals, cooperatives and foundations. They never received the final reports of the use that each sum was given for.

This shows a grave negligence on the previous bank administrations. The way the bank was handled was very irresponsible. It was not handled as a serious company.

Though the authorized entities were in charge of direct contact with families and construction companies, the bank should have kept tabs on the process.

This is the very first time that the bank’s finances have come under scrutiny, mainly because no internal or external body has ever done a study on the resources since the founding of Bahnvi in 1986.

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