World bank give loan of US $155m to WAEMU for its housing development.
West Africa economic and monetary union (WAEMU) has gotten an assistance from the world bank to help improve its housing. The west Africa regions include Benin, Burkina, Cote d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo is expected to have the housing shortage increase to a reasonable amount.
World Bank Country Director for West Africa Regional Operations, Rachid Benmessaoud; ”That one dollar of IDA will leverage about 5 dollars of private finance overall.”
The Funds is expected to facilitate about 50,000 new mortgages, and will also leverage much greater amounts of investment into affordable housing through the bond-raising activities. The project will provide technical assistance to develop the enabling environment to support the construction of cheaper housing.