The law creating Brazil’s National Social Interest Housing Fund and regulating the National Social Interest Housing System was ratified yesterday, June 16, by President Luiz Inácio Lula da Silva.
The main purpose of the fund is to coordinate resources for federal, state, and municipal government housing programs to benefit the low income population.
During the ceremony, the Minister of Cities, Olívio Dutra, emphasized that ratification of the law represents a victory for the social movements that fight for the right to decent housing.
The Fund is the result of the first bill submitted to the National Congress by popular initiative. Over a million signatures were gathered.
“Today’s ceremony concludes a victorious phase of the struggle that has lasted over 14 years by popular movements on behalf of adequate housing throughout the country,” Dutra remarked.
According to the Minister, the Fund will make it possible to reduce Brazil’s housing deficit, which currently amounts to 7.7 million housing units. 5.5 million of them are in urban centers.