The document is based on the housing loan initiative aims by First Microfinance Bank Afghanistan (FMFB-A), its urban housing microfinance portfolio while developing, piloting, and rolling out housing microfinance products for rural areas. The program, which has received technical support from USAID, IFC, and Aga Khan Foundation (AKF) – USA, also seeks to significantly improve the quality of housing by offering construction appraisal and advisory services. The pilot of the rural housing product also concluded in the last quarter of 2012 with branches being able to achieve 99% of the targeted 200 loans. A pilot review is planned for 2013 to understand branch experience and various challenges linked to seasonality, client feedback, and market expansion. An automated seasonal repayment module has been developed and is currently being tested; seasonal repayments emerged strongly as a key need for rural clients given the seasonality of their income. It is expected that this module will be installed across FMFB by mid 2013.