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Housing and the World Bank: mortgaging development

In: The Elgar Companion to the World Bank

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  • Liam Clegg

Abstract

Globally, over one billion people lack access to adequate housing. Since the early 1970s when the World Bank commenced its lending for housing, its operational approach has evolved through three distinct phases. Through this chapter, I review the shifts from prioritizing state-led upgrading of informal settlements, to increasingly market-based interventions, and most recently to the expansion of housing finance. I explore these trends by presenting a holistic assessment of World Bank housing projects alongside particular attention to lending for housing in Mexico. Overall, in its perennial balancing act between being a ‘development agency’ and being ‘bank-like’, it seems that in its lending for housing the World Bank has pivoted towards the latter, and in doing so moved away from the needs of the lowest income groups.

Suggested Citation

  • Liam Clegg, 2024. "Housing and the World Bank: mortgaging development," Chapters, in: Antje Vetterlein & Tobias Schmidtke (ed.), The Elgar Companion to the World Bank, chapter 27, pages 321-331, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21163_27
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    File URL: https://www.elgaronline.com/doi/10.4337/9781802204780.00040
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