1、本科毕业论文（设计）外文翻译原文REALESTATEFINANCINGINBANGLADESHPROBLEMS,PROGRAMS,ANDPROSPECTSOBJECTIVESOFTHESTUDYREALESTATEFINANCINGISARELATIVELYNEWCONCEPTINBANGLADESHRESEARCHINGONTHISISSUEISEVENNEWERINOURCOUNTRYAFEWCOMPARATIVESTUDIESHAVEBEENCONDUCTEDONHOUSINGFINANCE,ANDMOSTPUBLICATIONSARE“STATUSREPORTS”OFFEREDWITH
2、OUTANANALYTICFRAMEWORKONEOFTHEWEAKNESSESOFTHEEXISTINGCOMPARATIVESTUDIESISTHEPOORQUALITYOFTHEDATAACONSEQUENCEOFTHEDELAYEDCHANGESINTHEGOVERNANCEOFHOUSINGTILLDATE,TOOURKNOWLEDGE,TWOSTUDIESHAVEBEENCONDUCTEDSOFAR,ONEBYASIANDEVELOPMENTBANKADBIN1993ANDTHEOTHERBYUNDP/UNCHSHABITATIN1998WHICHHAVESHADEDSOMELIG
3、HTSONTHISISSUE,UNFORTUNATELYMOSTOFTHEINFORMATIONUSEDINTHESESTUDIESISNOWOUTDATEDTHEBASICOBJECTIVEOFTHISSTUDYISTOUNDERSTANDTHEREALESTATEFINANCINGSOURCESANDTHEPROBLEMSASSOCIATEDWITHTHEAVAILABLEFINANCINGOPTIONSINBANGLADESHTOACCOMPLISHTHISOBJECTIVE,FOLLOWINGSPECIFICOBJECTIVESHAVEBEENCOVERED1TOEXAMINEVARI
4、OUSFORMALANDALTERNATIVESOURCESOFREALESTATEFINANCINGINBANGLADESH2TODISCUSSSOMEMAJORISSUESANDPROBLEMSINEXPANDINGFORMALHOUSINGFINANCESYSTEMINBANGLADESH3TOCRITICALLYEVALUATESOMEIMPORTANTPOLICYMEASURESNECESSARYTORESOLVETHESEPROBLEMS4TOIDENTIFYSTRATEGIESTHATCANCONTRIBUTETOTHEDEVELOPMENTOFREALESTATEFINANCI
5、NGINBANGLADESHSTATUSOFREALESTATEFINANCINGINBANGLADESHMCKINNEY,JR1952HASIDENTIFIEDFOURSOURCESOFREALESTATEFINANCINGINORDEROFCONTRIBUTIONDURINGTHEHOUSINGBOOMINTHEUNITEDSTATES,SUCHASSAVINGSANDLOANASSOCIATIONSFOLLOWEDBYCOMMERCIALBANKS,INSURANCECOMPANIES,ANDMUTUALSAVINGSBANKSEDWARDS,1964HASALSOPOINTEDOUTT
6、HATSAVINGSANDLOANASSOCIATIONSBYCONTINUETOGROWMORERAPIDLYTHANOTHERMORTGAGELENDERS,ISTHEDOMINANTFORCEINTHEHOMEMORTGAGEMARKETSINSPITEOFANINCREASINGFOCUSONURBANHOUSINGANDDEVELOPMENT,INFORMALSYSTEMSARESTILLTHEDOMINANTPRODUCERSINMANYDEVELOPINGCOUNTRIESANESTIMATED60AND70PERCENTOFMEXICOSANDBRAZILSCURRENTHOU
7、SINGSTOCKISBUILTINFORMALLYBECAUSECURRENTVALUECHAINSARENOTADAPTEDTOTHENEEDSANDREALITIESOFTHISGROWINGMARKETFRANCKANDFERGUSON,2004THETWOMOSTCOMMONINFORMALSOURCESARELOCAL“LOANSHARKS”WHOCHARGEEXORBITANTINTERESTRATES,ANDSAVINGSGROUPSSUCHASTANDASINMEXICOSTOKVEL,LETSEMA,ORUBUNTUINSOUTHAFRICAORMINGAINECUADOR
8、SCHMIDTANDBUDINICH,2006BESIDESTHESTATEOWNEDBHBFC,OTHERSOURCESOFHOUSINGFINANCECURRENTLYAVAILABLEINBANGLADESHARECOMMERCIALBANKS,EMPLOYEELOANS,LIFEINSURANCEPOLICIES,ANDINFORMALMEANSINTHERURALSECTOR,THEHOUSINGCOOPERATIVESARETHEMAJORPROVIDERSOFHOUSINGFINANCEBANGLAPEDIA,2005THE1993ADBSURVEYOFHOMEOWNERSOFN
9、EWLYCONSTRUCTEDHOUSESSHOWEDTHATTHEMOSTIMPORTANTSOURCEOFHOUSINGFINANCEWASHOUSEHOLDSAVINGSMORETHANONETHIRDLOANSFROMRELATIVESANDFRIENDSWERETHESECONDMOSTCOMMONFORMOFFINANCE,FOLLOWEDBYTHESALEOFOTHERPARCELSOFLANDEMPLOYERANDBANKLOANSINCLUDINGGRAMEENBANKLOANSWEREUTILIZEDBY13PERCENTOFNEWHOMEOWNERSANDBHBFCLOA
10、NSWEREONLYACQUIREDBY5PERCENT,ALLINTHEHIGHERINCOMEBRACKETSHOEKSMIT,1998MOREOVER,SEVERALPUBLICAGENCIES,SUCHASTHEHOUSINGANDSETTLEMENTDIRECTORATE,PUBLICWORKSDEPARTMENTPWD,LOCALGOVERNMENTENGINEERINGDEPARTMENTLGEDANDDIFFERENTCITYCORPORATIONSAREINVOLVEDINTHEFINANCINGANDDEVELOPMENTOFHOUSINGANDRESIDENTIALINF
11、RASTRUCTUREPROJECTSAFTERTHELIBERATION,THETHENGOVERNMENTHASINAUGURATEDAPROGRAMTOREHABILITATETHEPOORANDTHEHOMELESSINANUMBEROFGUSSOGRAMCLUSTERVILLAGESLATER,VARIOUSGOVERNMENTHAVECHALKEDOUTDIFFERENTPROGRAMSTOSUPPORTTHERURALLANDLESSANDHOMELESSPEOPLE,SUCHASSHEIKHHASINASGOVERNMENTHASINITIATEDPROGRAMSLIKEASR
12、AYONSHELTER,GHAREYPHERARETURNHOMEANDEKTIBARIEKTIKHAMARONEHOMESTEADONEFARMGRIHAYANTAHBILHOUSINGFUNDPROJECT,AHOUSINGFUNDADMINISTEREDBYTHEPRIMEMINISTERSOFFICE,PROVIDESLOWCOSTFUNDSTONGOSANDPRIVATESECTORDEVELOPERSFORTHECONSTRUCTIONOFHOUSESFORLOWTOMODERATEINCOMEGROUPPEOPLEUPTOJUNE2006,BDT8374CROREWASDISBU
13、RSEDAND36,500HOUSESWERECONSTRUCTEDOUTOFTHEALLOCATEDAMOUNTOFBDT15356CROREUNDERHOUSEBUILDINGLOANAMONGTHERURALPOORTHERATEOFRECOVERYAGAINSTDISBURSEDLOANSIS88PERCENTBANGLADESHECONOMICREVIEW,2006APARTFROMTHESE,THEGOVERNMENTHASAPROGRAMTOLEASELANDTOPRIVATEAGENCIESFORBUILDINGHOUSESFORLOWERANDMIDDLEINCOMEGROU
14、PSWITHCROSSSUBSIDYFROMTHEHIGHERINCOMEGROUPSINTHISCASE,THEGOVERNMENTWILLBEPLAYINGTHEROLEOFANENABLERORAFACILITATORBESIDESGOVERNMENTEFFORTS,ALARGENUMBEROFNGOSHAVEBECOMETHEPARTNERSWITHTHEGOVERNMENTSPECIALLYINPROVIDINGMICROCREDITSTOTHEPOORTHEENACTMENTOFTHEFINANCIALINSTITUTIONSACT1993OPENEDTHEDOORFORPRIVA
15、TEHOUSINGFINANCECOMPANIESTHEREARENOW23PRIVATECOMPANIESTHATEXTENDHOUSINGFINANCEINBANGLADESHPROMINENTAMONGTHEMARETHEDELTABRACHOUSINGFINANCECORPORATIONLTDANDTHENATIONALHOUSINGFINANCEANDINVESTMENTLTDTHESECOMPANIESMAKELOANSFORTHECONSTRUCTIONOFHOUSES,ACQUISITIONOFFLATSANDHOUSES,EXTENSIONANDIMPROVEMENTOFEX
16、ISTINGHOUSING,ANDTHEPURCHASEOFHOUSINGPLOTSMOSTOFTHEPRIVATESECTORPLAYERS,THOUGHRELATIVELYNEWHAVENONPERFORMINGLOANSNPLSBELOW1PERCENTBUTTHEIRINTERESTRATESAREVERYHIGHCOMPARINGWITHTHENATIONOWNEDBHBFCFOREXAMPLE,DELTABRACHOUSINGCHARGESINTERESTRATEASHIGHAS16PERCENTWHICHISHIGHERTHANEVENTHATOFTHEBHBFCBY1PERCE
17、NTTHECONTRIBUTIONOFMICROCREDITLENDERSSUCHASGRAMEENBANK,BRAC,ASAANDPROSHIKAINTHISSECTORISVERYINSIGNIFICANTPOLICYANDPROGRAMSINREALESTATEFINANCINGTHEHOUSINGFINANCEGROUPOFTHEIFCHASIDENTIFIEDNUMEROUSCHALLENGESTHATMUSTBEOVERCOMEIFTHEHOUSINGFINANCESECTORISTOFULFILLITSOBJECTIVEOFINCREASINGTHEAVAILABILITYAND
18、AFFORDABILITYOFRESIDENTIALHOUSINGINDEVELOPINGCOUNTRIESTHESEARELENDINGRESTRICTIONSMORTGAGELENDINGISOFTENNARROWLYRESTRICTEDTOASINGLESECTOR,SUCHASGOVERNMENTOWNEDLENDERSORHIGHLYREGULATEDPRIVATEINSTITUTIONS,INFRASTRUCTUREEMERGINGMARKETSOFTENLACKTHEINFRASTRUCTURETHATISFUNDAMENTALTOTHESUPPORTOFHOMEOWNERSHI
19、P,SUCHASUNTARGETEDSUBSIDIESANDDISINCENTIVESFORTHEFINANCIALSECTOR,REGULATORYENVIRONMENTLEGALANDREGULATORYREFORMSTHATINCLUDELIENREGISTRATIONS,PROPERTYRIGHTSANDFORECLOSUREPRACTICES,CAPACITYTHEPOOLOFSKILLEDMANAGERSANDFIELDSTAFFEXPERIENCEDINHOUSINGFINANCEISLIMITEDINMOSTCOUNTRIES,ANDOUTREACHWHILENUMEROUSI
20、NSTITUTIONSHAVELEARNEDHOWTOPROFITABLYSERVETHEHOUSINGFINANCESECTOR,THEYHAVEYETTORISETOTHECHALLENGEOFMASSIVEOUTREACH,EXCEPTINAFEWCOUNTRIESHOUSINGFINANCEGROUP,2006THETECHNICALASSISTANCEPERFORMANCEAUDITREPORTONTHEHOUSINGSECTORINSTITUTIONALSTRENGTHENINGTANO1670BANINBANGLADESHHASPROVIDEDANEIGHTPOINTFINANC
21、INGSTRATEGYINVOLVING1INTRODUCINGANATIONALHOMELENDINGPROGRAMNHLP2REDIRECTINGHOUSINGSUBSIDIES3INCREASINGLENDINGRECOVERYRATESBYBHBFC4EXPANDINGTHEPRIMARYMORTGAGEMARKET5REHABILITATINGBHBFC6ADOPTINGALEGALANDREGULATORYREFORMPROGRAMTOSAFEGUARDLENDERS7ENHANCINGLENDINGINRURALAREASTHROUGHVILLAGEMICROCREDITSCHE
22、MESAND8IMPROVINGTHECLIMATEFORATTRACTINGFINANCETOTHEHOUSINGSECTORADB,1995CONCLUSIONSANDRECOMMENDATIONS1IFTHEHOUSINGPROBLEMSARETOBEMOREEFFECTIVELYADDRESSED,HOUSINGPOLICIES,SPECIALLYFINANCINGISSUESMUSTBETAKENINCONSIDERATIONSTRONGER,MOREEFFECTIVEENABLINGSTRATEGIESMUSTBEDEVELOPEDBYTHEPUBLICSECTORTOALLOWH
23、OUSINGMARKETSFORTHEVARIOUSTIERSTOLEVERAGETHEACTIVITIESOFTHEPRIVATESECTORTHENATIONALHOUSINGPOLICY,1993FOCUSESONTHEBASICOBJECTIVESOFPROVIDINGHOUSINGTOPEOPLEATALLSTRATA,ESPECIALLYTOTHELOWANDMIDDLEINCOMEGROUPSANDTHOSEHAVINGNOACCESSTOHOUSINGUNFORTUNATELY,THEFORMALSOURCESOFREALESTATEFINANCINGAREONLYACCESS
24、IBLETOASMALLPROPORTIONOFTHEPOPULATIONWHILETHISPOLICYISACOMPREHENSIVEAPPROACHTOHOUSINGFINANCE,ITREMAINEDAPLANWITHOUTANIMPLEMENTATIONSTRATEGYTHEHOUSINGFUND,FIRSTPROPOSEDBYADB,WASRECENTLYCREATEDBUTASAONETIMEINJECTIONOFFUNDSWITHOUTAPROPERINSTITUTIONALSTRUCTUREITISONLYACCESSIBLETONGOSANDGOVERNMENTAGENCIE
25、S,NOTTOPRIVATELENDINGINSTITUTIONSRECENTLYSTEPSWERETAKENATPOLICYLEVELGEAREDTOWARDTHEHOUSINGSECTORBHBFCHASEXPANDEDITSHOUSINGLOANPROGRAMALLOVERTHECOUNTRYATTHEDISTRICTHEADQUARTERSFROMJULY1,1999AFTER12YEARSOFSUSPENSIONBHBFCHASALSOSHIFTEDITSFOCUSFROMPROVIDINGLOANSTOHIGHERMIDDLEINCOMEGROUPSTOALLINCOMEGROUP
26、SMOREOVER,GOVERNMENTCOULDREDUCETHESTAMPDUTYANDADMINISTRATIVECOSTOFMORTGAGELENDINGTOMAKEITMOREAFFORDABLE2THEOBJECTIVESOFTHESUBSIDYSCHEMESHOULDBETOASSISTTHOSETHATDONOTQUALIFYFORAFORMALSECTORMORTGAGELOANANDTHEREBYINCREASINGTHENUMBEROFMIDDLEINCOMEHOUSEHOLDSTHATCANAVAILTHEMSELVESOFHOUSINGFINANCEHOWEVER,W
27、ENEEDTOKEEPINMINDTHATSUBSIDIZEDFUNDINGFORSTATEOWNEDHOUSINGFINANCEENTITIESCREATESDISTORTIONSINTHEMARKETPLACEANDITSHOULDBESTOPPEDFORTUNATELY,FORTHELASTFEWYEARS,BHBFCCOULDNOTAVAILANYSUBSIDIZEDFUNDINGTHROUGHTHEGOVERNMENTORGOVERNMENTGUARANTEEDDEBT3REALESTATELOANRECOVERYRATEINTHEPUBLICSECTORISVERYLOWANDWE
28、LLBELOWTHATOFTHECOMMERCIALBANKSWHILEINTHEPASTARURALHOUSELENDINGPROGRAM,SPONSOREDBYTHEGOVERNMENTTHROUGHA3PERCENTREFINANCINGWINDOWATTHEBANGLADESHBANKWASSTOPPEDBECAUSEOFALLEGEDPOORRECOVERYRATESTHEOUTSTANDINGBALANCEOFTOTALLOANSANDADVANCESOFTHEBHBFCONJUNE30,2000WASBDT27,23697MILLION,OFWHICHCLASSIFIEDLOAN
29、SACCOUNTEDFORBDT8,34307MILLIONSUBSTANDARDBDT2,42115MILLION,DOUBTFULBDT2,85067MILLIONANDBADDEBTSBDT3,07124MILLIONHOWEVER,THERECOVERYRATEOFHOUSINGSECTORLOANSINTHEBANKINGSECTORAVERAGESAPPROXIMATELY70PERCENTTHEPOORRECOVERYRATEISDUEMOSTLYTOOLDERLOANSANDRECOVERYEXCEEDS80PERCENTONLOANSDISBURSEDAFTER1990HOE
30、KSMIT,1998OVERTHEYEARS,MAJORPROBLEMSINLOANRECOVERYBEGANTOPLAGUETHEHOUSINGPORTFOLIOSANDTHEBANKSGRADUALLYDECREASEDTHEPROPORTIONOFADVANCESFORHOUSING4INORDERTODEVELOPAPRIMARYMORTGAGEMARKET,FINANCIALASSISTANCETOPRIMARYMORTGAGEMARKETPLAYERSEGBANKSEXTENDINGHOUSINGLOANS,SPECIALIZEDHOUSINGFINANCEORIGINATORST
31、HROUGHEQUITYPARTICIPATION,LOANS,CREDITLINESANDWAREHOUSELINESSHOULDBEGIVENDEVELOPMENTOFSTANDARDIZEDANDPRUDENTCREDITUNDERWRITING,MORTGAGEORIGINATIONANDSERVICINGSTANDARDS,ANDADVICEONTHEUSEOFTECHNOLOGYTOIMPLEMENTSUCHSTANDARDSMOREOVER,MORTGAGEINSURANCEOROTHERPERIPHERALSERVICESSUCHASCREDITREPORTING,PROPER
32、TYAPPRAISALANDEVALUATIONSHOULDBEDEVELOPED5NATIONALHOUSINGFINANCESYSTEMSMUSTPROVETHEMSELVESCOMPETITIVEBYMOBILIZINGANDALLOCATINGCAPITALEFFICIENTLYTHEBHBFCHASONLYMADEVERYLIMITEDPROGRESSINBECOMINGSELFSUSTAINABLEORINREACHINGLOWERINCOMEHOUSEHOLDSSINCEBHBFCDOESNOTHAVEADDITIONALFUNDINGTHEYARENOTINAPOSITIONT
33、OGOFORNEWLENDINGTHEPRICESOFMORTGAGEDLANDSTHATBHBFCHADAGAINSTTHEIRLENDING10TO15YEARSAGOHAVEGONEUPSIGNIFICANTLYHOWEVER,BHBFCLACKSTHECAPACITYTOCOLLECTTHOSEFUNDSANDTHEYSHOULDTHEREFORESELLTHELOANSATADISCOUNTEDPRICETOGENERATENEWFUNDS6INSURANCEANDTRUSTACTSHAVENOTBEENCHANGEDTOFACILITATELENDINGBYLONGTERMINVE
34、STORSINTHEHOUSINGSECTORSOMETIMESDEVELOPERSAREACCUSEDFORNOTPROPERLYFOLLOWINGTHEPROCEDURESFORBORROWINGMONEYFROMFINANCIALORGANIZATIONSTHREEPARTIESGETINVOLVEDINTHEPROCESSTHEDEVELOPER,THELANDOWNERFROMWHOMTHELANDWASLEASEDANDTHEONEWHOBUYSTHEAPARTMENTTHUS,THELEGALASPECTSOFBORROWINGBECOMECUMBERSOMEASIMPLIFIE
35、DLEGALMETHODSHOULDBEESTABLISHEDFORALLINSTITUTIONSANDSHOULDBEMADEMANDATORYMOREOVER,DEFAULTANDFORECLOSURELAWSARECOMPLICATEDANDITTAKESMORETHAN5YEARSBEFOREAPROPERTYCANBEREPOSSESSEDHOWEVER,DEBTRECOVERYANDBANKRUPTCYLAWSHAVERECENTLYBEENENACTEDANDTHEGOBLAUNCHEDALOANRECOVERYDRIVEFORITSNCBANDOTHERSTATELENDING
36、INSTITUTIONSASPARTOFTHISINITIATIVE,BHBFCHASRECENTLYANNOUNCEDAMAJORACTIONTODEALWITHITSNONPERFORMINGLOANS7THOUGHTHEBASICPRINCIPLESOFTHENATIONALHOUSINGPOLICYARETHAT,THEGOVERNMENTWOULDPLAYTHEROLEOFANENABLER,NOTTHEROLEOFADEVELOPERORPROVIDERINTHEHOUSINGSECTOR,THEGOVERNMENTWOULDPLAYTHEPROVIDERSROLEONLYINTH
37、ECASEOFGOVERNMENTEMPLOYEESRENTALHOUSINGOROWNERSHIPHOUSINGFORTHELOWINCOMEGROUPSHOWEVER,ITISEVIDENTTHAT,OVERTHELASTTWOGOVERNMENTPERIOD,MOSTOFTHEGOVERNMENTBUILTHOUSESISFORTHEUPPERGRADEGOVERNMENTEMPLOYEES,POLITICALLEADERS,RATHERTHANLOWERINCOMEGOVERNMENTEMPLOYEESORTHEPOORPEOPLEINGENERALTHEINTRODUCTIONOFN
38、EWFORMSOFLOWCOSTHOUSINGANDTHEDECENTRALIZATIONOFHOUSINGANDPLANNINGFUNCTIONSTOLOCALGOVERNMENTHAVEYETTOBEACHIEVEDTHEPROVISIONOFNEWAPPROACHESFORTHEFINANCINGOFLOWCOSTHOUSINGREMAINSAMAJORAREAOFCONCERNAPARTFROMTHEMOREFLEXIBLEAPPROACHTOLENDINGTOLOWERINCOMEGROUPSINTRODUCEDBYBHBFC,THEVARIOUSGOVERNMENTAGENCIES
39、HAVEBEENCONSTRAINEDBYALACKOFRESOURCESINTHEIRABILITYTOINTRODUCESIGNIFICANTINITIATIVESTOHELPTHELOWERINCOMEHOUSINGMARKETSOURCEMDMAKSUDURRAHMANSARKER,MOHAMMADMONIRUZZAMANSIDDIQUEE,SHEIKHFEROZEREHANREALESTATEFINANCINGINBANGLADESHPROBLEMS,PROGRAMS,ANDPROSPECTS,SOCIETYSCIENCERESEARCH,200910316译文孟加拉房地产融资问题，
40、程序与展望研究目标房地产融资对于孟加拉共和国来说是一个相对的新观念。这项研究甚至在我们国家也是比较先进的。一些类似的研究都是主要针对于建筑物的融资，大部分的出版物都是没有系统框架的“数据报告”。另外一项现今类似研究中的缺陷是低质量的数据这是建筑管理滞后的结果。迄今为止，在我的知识储备里，两项研究的主导内容如此相近，一个是亚洲发展银行在1993年的研究，一个是开发计划署在1998年进行的在这项问题上有一定隐瞒的研究，不幸的是这两个研究里的大部分数据都已经过时了。这项研究的基本目标是了解孟加拉国可利用融资房地产融资资源和问题，并为其提供融资方案。为了完成这个目标，包括下列特殊目标1审查孟加拉国房地
41、产融资的各项基本和可替代资源。2讨论孟加拉国扩大基本建筑融资系统的一些主要问题和后果。3批判性的评价那些用来解决这些问题的重要政策措施。4判断那些战略是否能够为孟加拉国的房地产融资发展做贡献。孟加拉房地产融资的地位小麦金尼（1952年）已确定了使美国住宅市场繁荣（按顺序支付）的四个房地产融资来源，商业银行的存款和负债，保险公司，存款互助银行。爱德华（1964）也指出储蓄和负债协会的持续增长比其他按揭贷款增长更迅速，是住房抵押贷款的主要推动力量。除去对城市住房和发展的日益重视，非官方系统也仍是许多发展中国家的主要生产者墨西哥和巴西现代房屋存量的大约百分之六十到七十是非正式建造的，因为目前的价值链
42、难以适应这个一直增长的市场需求（弗兰克和福古森，2004）。两个最大的非正式来源一个是掌握着本地高利贷的高利贷者，一个是像墨西哥的坦德斯；南非的斯托克弗，莱塞玛或乌邦图；或厄瓜多尔的明戈这样的资金组织。（施密特和布蒂尼许，2006）除了孟加拉国有房屋建筑融资公司，其他目前孟加拉国可允许的住房融资资金来源有商业银行，员工贷款，寿险保单和其他非正式手段。在农村地区，房屋合作社是住房融资的主要供应商（巴拉皮迪娅，2005）。1993年亚洲开发银行关于新建房屋的房屋拥有者调查显示住房融资最主要的来源是家庭储蓄业务（超过三分之一）。来自亲戚和朋友的借款是第二主要普遍融资方式，其次是其他土地的出售。雇佣者
43、和银行贷款（包括格莱珉银行贷款）被百分之十三的新房屋持有者使用，孟加拉房屋建筑融资公司仅被百分之五的，那些高收入阶层需求（霍克斯密特，1998）。甚至，许多政府机构，比如住房安置局，公共事务部门，当地政府工程部门和其他城市企业都参与了房屋住宅基础设施项目发展的融资。解放后，当地政府启动了一项名叫固索计划的项目用于安置贫穷者和无家可归的人（集群村庄）。后来，各阶层的政府提供了许多不同的方案以支持农村那些没有土地和无家可归的人，比如谢赫哈希娜的政府采取了诸如遮蔽所，回归家园和一家园一农场的计划。住宅建设基金计划，一项由总统办公室管理的住房基金，向非政府组织和私人开发商为房屋建设提供低折扣的资金以照
44、顾低收入人群。截止2006年6月，政府已经支付了15356亿塔卡，为农村贫困人口建造了36500幢房子，发放了15356亿塔卡的建筑贷款。发放贷款的回报率是百分之八十八（孟加拉经济评论，2006）。除去这些，政府还进行了一项和高收入人群交叉补贴，为低收入和中等收入私人机构建造房屋的计划。这种情况下，政府将扮演一个“推动者”或“调解者”的角色。除了政府推动力，很大部分的非政府组织已经变成了政府的伙伴特别是在为穷人提供小额贷款的方面。金融机构法在1993年开放了私人住房融资公司的政策。现在孟加拉国有23家经营住房融资的私人公司。其中突出的有孟加拉国康复援助委员会住房融资公司和国家住房融资和投资公司
45、。这些公司为建造房屋，收购房屋住宅，扩大改善现有住房和购买住房地块提供贷款。大部分私营部分参与者，虽然比较新的公司会有低于百分之一的不良贷款，但相比国有的孟加拉房屋建筑融资公司他们的利息率非常的高。比如，孟加拉国康复援助委员会住房融资公司的利息率高达百分之十六，比孟加拉房屋建筑融资公司高了百分之一。小额信用贷款（比如格莱珉银行，孟加拉国康复援助委员会，社会地位协会，泊西卡组织）在这个领域的作用十分微小。政策与房地产融资项目国际金融中心住房融资组织认为克服住房融资困难，提高发展中国家住宅建筑的可利用率和支付能力的问题是一项巨大的挑战。这些贷款限制（指按揭贷款是往往单一到狭隘的区域，例如国家贷款或
46、高度管理私营机构），基础设施（新兴市场往往缺乏支持房屋私有制的基本原则，比如无针对性的补贴和对金融部门的惩罚措施这些基础措施），监管环境（法律和包括留置权登记的监管改革，财产权和取消抵押品赎回权的做法），能力（在大多数国家，熟练的管理人员和现场工作的有经验人员在房屋融资上有限）和推广（虽然许多机构如何为住房融资部门盈利，但他们还没有上升到大规模推广的程度，除了在少数的几个国家）（住房融资组织，2006）。孟加拉住房部门制度加强技术援助绩效审计报告提出了八点融资策略，包括（1）引进一个国家住房贷款计划；（2）重新定向房屋补贴；（3）提高孟加拉国有房屋建筑融资公司的贷款回收率；（4）扩大主要按揭市
47、场；（5）重组孟加拉国有房屋建筑融资公司；（6）采取法律监管改革方案以保障贷款人（7）通过乡村小额贷款计划提高在农村地区的贷款额；（8）吸引资金以改善住房部门的风气。（亚洲开发银行，1995）结论和建议1如果住房问题要更有效地解决，房屋政策，特别是融资问题必须得考虑。公共部门必须发展更强健、更有效的扶持战略去允许各种层次的住房市场利用私人部门的活动。1993年的国家住房政策着重以提供住房，以所有阶层的人为基本目标，特别是中低层收入没有住房的群体。不幸的是，这部分正规来源的房地产融资只有一小部分的人能够使用。虽然这项政策对房地产融资是一次完全促进，但它仍然是一项没有战略眼光的计划。由亚洲开发银行
48、首次提出的住宅基金最近被创立，但是，作为一个一次性资金注入的计划却没有适当的体制结构。他只允许非政府组织和政府机构组织的参与，不允许私人贷款机构的加入。最近的政策计划面向了住房部门。孟加拉国有房屋建筑融资公司在从1999年7月1日暂停12年后现又扩大了住房贷款项目使之遍及全国（在地区的总部），孟加拉国有房屋建筑融资公司的贷款重点也从中等较高收入群体转向了所有收入群体。而且，政府可以降低印花税和按揭贷款的管理成本使之更实惠。2有关资助计划的目标应是协助不符合正规部门法人按揭贷款要求从而导致的增加的中等收入的家庭数目，使他们可以获得自己的住房融资。但是，我们必须注意因为用国有住房融资的补贴资金创建
49、实体而给市场造成的扭曲，如果出现就必须停止。不幸的是，这几年来，孟加拉国有房屋建筑融资公司不能利用任何政府或政府担保的债务的补助资金。3房地产贷款在公共部门的回收率相当低，远低于商业银行。虽然在过去，农村住宅贷款方案，由政府资助的3个百分点资金因为涉嫌过低回收率，已经在孟加拉银行再融资窗口停止。2000年6月39日，孟加拉国有房屋建筑融资公司的总贷款及垫款总额达到2723697百万塔卡，特定分类贷款占了8,34307百万塔卡（不合标准的资金有242115亿塔卡，呆账285067亿塔卡和坏账307124亿塔卡）。但是，银行部门的借款回收率平均有近乎百分之七十。低回收率的原因主要是旧借款与1999年超过百分之八十的贷款发放（霍克斯密特）。这些年后，贷款回收的主要问题变成了家庭灾祸和银行逐渐降低的房屋预付款。4为了发展一个主要抵押贷款市场，对按揭市场的主体的资金援助（比如银行增加住房贷款，房屋融资者的专项基金）通过参股，借款，贷款限额和仓库限额发放。标准化的发展和审慎的信贷审批，按揭和服务标准和使用技术等标准的实施意见。甚至，按揭保险或如信用报告，资产评估和评价的其他周边服务也发展起来。5国有住房金融系统必须证明自己有有效地调动和分配资金的竞争力。孟加拉国有建筑融资公司只有在转变为自负盈亏和贴近低收入家庭方面有有限的发展。自从孟加拉国有房屋建筑融资公司没有了额外资金
