Côte d'Ivoire Secures US$75 Million Loan For Social Housing
The funds will support the construction of 7,500 housing units.
Côte d'Ivoire has signed a US$75 million loan agreement with the Arab Bank for Economic Development in Africa (BADEA) to support the construction of 7,500 social housing units.
The Minister of Construction, Housing and Urbanisation Bruno Nabagné Koné said the financing will make it possible to proceed in the coming weeks with a first phase of 1,240 apartments in the city of Abidjan.
Work will include the construction of 31 buildings with 40 apartments each, car parks, play areas and green spaces. The government will take responsibility for improving public facilities in the area including schools, markets and health centres.
The minister said tenders have already been launched to select companies to carry out the construction work.
Under Côte d'Ivoire’s emergency housing programme, plans have been drawn up to build 25,000 social housing units in urban centres, including 20,000 in Abidjan and 5,000 units in the interior towns of Yamoussoukro, Bouaké, Korhogo and San Pedro. The total expected cost of the programme is US$837 million.
The housing deficit in Côte d'Ivoire is estimated at 600,000 units. The presidential housing programme relaunched in 2022 aims to build 150,000 units by 2025.
🎯Fostering #inclusive infrastructure through #SocialHousing in Africa is key for BADEA.
— BADEA Arab Bank for Economic Development in Africa (@badeabank) July 11, 2023
📌 BADEA allocated USD 75M loan to the government of #CotedIvoire for 7,500 new social housing units and will keep supporting the country’s development strategy.
https://t.co/HYEfmkxZnW
Top photo: Loan agreement signing (Source: Côte d'Ivoire government portal)
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