IFC finances project to increase housing loans in Burkina Faso

Mar 31, 2011

The International Finance Corporation (IFC) has granted 300 million CFA francs (€457,000) to BHBF bank in order to finance a project aimed at increasing access to housing finance in Burkina Faso, APA news agency reports.

It is expected the project will help strengthen the commercial viability of mortgages at the BHBF, which is the first bank entirely dedicated to real estate.

The bank will also benefit, as part of this project, from the advice of consultants in the risk management and mortgages sector.

Pierre Zerbo, BHBF's chief executive officer, told APA that "this partnership will be successful for both institutions, allowing a broader number of Burkinabe people to access housing".

In addition, the government of Burkina Faso launched, at the end of last year, the '10,000 council house scheme'.

The State entered a partnership with private real estate investors to build 10,000 properties, which will be made available to beneficiaries of the programme.