The subcommittee met at 10 a.m., pursuant to call, in room 5302, New Senate Office Building, Senator John Sparkman (chairman of the committee) presiding. Present: Senators Sparkman and Proxmire. Also present: Mr. Carl A. S. Coan, Staff Director, Subcommittee on Housing and Urban Affairs. OPENING STATEMENT OF SENATOR SPARKMAN The CHAIRMAN. The hearings today and tomorrow are a continuation of a study of international housing being conducted by the Subcommittee on Housing and Urban Affairs. The first part of the study was in the form of papers prepared by U.S. Government agencies and U.S. affiliated organizations on their activities in the field of international housing. These papers were printed and published last year. Today's hearing is to receive testimony from these organizations to clarify and expand on the original material presented to the subcommittee. The current study is a followup of studies on this subject made by the subcommittee in the early 1960's. At that time, legislation was being prepared to establish an international home loan bank to help finance moderate cost housing in the developing countries in Latin America. Although the legislation was not approved by the committee, the hearings and discussions on the proposal laid the groundwork for the establishment of the housing investment guaranty program under which U.S. savings and loan associations are authorized to invest up to 1 percent of their assets in housing programs in developing countries abroad. Some $700 million of insured loans or loan commitments have been made under this program. One of the important features of the program is its emphasis on institutional building. Most of the U.S. funds under the program are now being channeled through financial institutions in the developing countries to help those institutions grow and improve so as to serve better the housing financing needs of the countries. The U.S. programs are both of the bilateral and multilateral type and serve a variety of needs associated with the developing nations. INTERNATIONAL HOUSING HEARINGS BEFORE THE SUBCOMMITTEE ON HOUSING AND URBAN AFFAIRS OF THE COMMITTEE ON BANKING, HOUSING AND URBAN AFFAIRS NINETY-SECOND CONGRESS SECOND SESSION ON A REVIEW OF REPORTS FROM UNITED STATES AGENCIES Architectural HC 60 45438 1972 COMMITTEE ON BANKING, HOUSING AND URBAN AFFAIRS JOHN SPARKMAN, Alabama, Chairman Preston Martin, Chairman, Federal Home Loan Bank Board, accompanied Page 4 5 Stanley Baruch, Director of the Office of Housing, Agency for International 9 Reuben Sternfeld, Acting U.S. Executive Director, Inter-American Development Bank__. 10 Robert Wieczorowski, U.S. Executive Director, International Bank for 12 Simon H. Trevas, special assistant for housing programs, U.S. Savings and Loan League__. 12 THURSDAY, MAY 25 C. Eric Carlson, Chief of Housing Section, Center for Housing, Building Sy Rotter, executive director, Pan American Development Foundation___ Katherine Johnson, representing the World Bank_ ADDITIONAL STATEMENTS AND DATA Excerpts from a report of the Secretary of State's Advisory Committee on the 1972 United Nations Conference on the Human Environment_‒‒‒ Federal Home Loan Bank Board, statement of Preston Martin, Chairman__ Foundation for Cooperative Housing, statement of Wallace J. Campbell, president 35 37 51, 254 Housing and Urban Development Department, statement of Dale Barnes, Inter-American Development Bank, statement of Reuben Sternfeld___. Statement of Robert E. Wieczorowski, executive director. International Cooperative Alliance, resolution of the central committee International Home Loan Bank, statement advocating the formation of-- National League of Insured Savings Associations, statement of Arthur 57, 254 54 |