Project characteristics

Open Society Institute and Habitat for Humanity have entered into partnership with Civic Association ETP Slovakia in order to implement an innovative project in towns and villages of eastern Slovakia with high number of low-income families.

Our goal is to assist low-income families in improving their housing quality.

The participants of the project are expected to prove their ability to secure their income and save part of it for their future goals and plans. Financial bonus in the amount equal to the sum of client’s savings is a reward to those who meet the strict requirements of the project. The bonus enables the savers to think about goals that would be otherwise impossible to reach for them, such as home ownership, reconstruction, completing education, starting small-business, etc.

Those, who meet the requirements of the savings program, can apply for a micro-loan equal to the amount saved and they can use it for reconstruction or purchase of a house or apartment.

All of the participants of the program have a chance and are obliged to undergo a financial interactive PC training that is tailored exactly for their needs. We also provide them with assistance and support in reconstruction, extension or purchase of an apartment or house as well as in starting a small-business. Personal counselors of ETP Slovakia, who provide comprehensive social services and vocational counseling in community centers, help the participants of the project with designing their own financial plan, provide financial counseling and help them to plan the necessary activities for achieving the goals set. The participants commit themselves (personal responsibility contract) to follow the rules of the project. The participants receive financial bonus equal to their saved amount (around 830 EUR) after meeting all of the requirements.

The successful clients of the savings program are offered a non-profit loan for renovation or modernization of their home. The implementation is secured through Loan revolving fund for low-income families and based on the contract between ETP Slovakia and Habitat for Humanity. After repaying the loan the families can apply four more times for the loan. The local authorities, as partners of ETP Slovakia, provide assistance in selection of eligible clients and guarantee regular repayments of the loan and its usage in accordance with the project.

For further information about possibilities of participation in this project please contact ETP Slovakia, Košice at 055/7288856, contact persons – Slavomír Kutaš or Beáta Kopalová.

 

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