Common Contracts
1 similar Master Guarantee Agreement contracts
Master Guarantee Agreement signed between Credit Guarantee Trust for Low Income Housing and Partner Financial InstitutionsMaster Guarantee Agreement • December 28th, 2020
A Credit Guarantee Trust, with Pakistan Mortgage Refinance Corporation (PMRC) as Trustee, has been set up by the Government of Pakistan with the support of State Bank of Pakistan (SBP) and funded by the World Bank. In line with Government’s vision to promote affordable housing specially for the low- and informal-income segments, the Credit Guarantee Trust will provide risk coverage of up to 40% to primary mortgage financiers on first loss basis. The guarantee will partially alleviate the credit risk of primary mortgage financiers and provide a conducive environment for banks to finance housing for the low-income. Keeping in view the dynamics of mortgage market and to facilitate market growth, the scheme has been designed for both conventional and Islamic banks.
