CRRH-UEMOA Bond

IFC’s proposed project with Caisse Régionale de Refinancement Hypothécaire de l’UEMOA (“CRRH”) aims to support CRRH’s local currency bond issuance program in order to: (i) contribute to the development of the housing market in the West Africa Economic and Monetary Union (“WAEMU” or the “Union”) and (ii) deepen the regional capital markets. The proposed project consists of an investment of up to XOF10 billion in CRRH’s 12-year bond and 15-year bond. The project will be supported by the Local Currency Facility of the IDA18 IFC-MIGA Private Sector Window (PSW), created by the Word Bank Group to catalyze private sector investment in IDA countries, with a focus on fragile and conflict-affected states. The Local Currency Facility will help deepen the regional capital markets by supporting longer-term local currency bond issuances, and will contribute to make homeownership more affordable thanks to the extension of mortgage loans maturities.