The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has signed an agreement to provide financing for low-cost housing in Cote d’Ivoire.
This is done by granting a loan of $27 million.
The financing agreement between the IFC and the Moroccan real estate group, Addoha, was signed on Monday, March 10, 2025, in Abidjan, the largest city of Cote d’Ivoire.
This happened in the presence of Prime Minister, Robert Beugre Mambe.
The loan is expected to enable the real estate group to accelerate implementation of its project, which aimed to build nearly 5,600 affordable housing units in Abidjan.
In June 2023, the government of the West African country and the IFC signed a consultancy programme to mobilise private sector investments for construction of quality social and economic housing.
According to the Prime Minister’s Office, the agreement is part of the Presidential Programme for the Construction of Social and Economic Housing.
“It will help consolidate the government’s efforts, which have already resulted in the completion of over 40,000 housing units since the programmes launch in 2012.
“Several construction sites have already been completed or are underway in the Abidjan metropolitan area, and the government aims to build 150,000 housing units by 2030.”