The West African Development Bank (BOAD) has injected 10 billion CFA francs in Benin’s program for the construction of 20,000 social housing units,
The loan agreement was signed recently on the sidelines of the session the UEMOA Council of Ministers in Ouagadougou, by the Beninese Minister of Finance, Romuald Wadagni, and the President of BOAD, Christian Adovelande.
This loan is part of the funds mobilized for the servicing and development of the building sites. It brings 50 billion CFA francs to the financial institution’s commitments on this project.
On September 13, the Board of Executive Directors of the Islamic Development Bank (IDB) approved US$ 69.1 million in financing, representing more than 40 billion CFA francs to Benin to support the same project.
The latter is a program that provides for the construction of F4-type houses in 14 cities, including 12,960 individual and 7,040 collective homes. This is the large-scale real estate project that the government intends to implement as part of its five-year program of action 2016-2021.
It aims to provide low-income and middle-income people with access to decent housing.
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