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The agreement, signed Monday in Nouakchott, forms part of ShafDB’s strategy to promote access to decent housing for low- and middle-income populations across Africa
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Nouakchott — Shelter Afrique Development Bank (ShafDB), a leading pan-African multilateral development bank committed to financing and advancing housing, urban development, and related infrastructure, has signed a USD 15 million loan agreement with Banque Mauritanienne de l’Investissement (BMI) to support affordable housing in Mauritania.
The agreement, signed Monday in Nouakchott, forms part of ShafDB’s strategy to promote access to decent housing for low- and middle-income populations across Africa and will strengthen Mauritania’s housing finance ecosystem, especially for underserved communities. The loan will be used to co-finance the construction of 1,000 homes in the town of Zouératt and to service 1,000 plots in the commune of Tevragh Zeina for both the diaspora and local residents.
ShafDB Managing Director & CEO, Mr. Thierno-Habib Hann, (second from left), emphasized that ShafDB and BMI share a common vision: empowering the diaspora and residents of Zouératt to build their own homes
Commenting on the partnership, Shelter Afrique Development Bank Managing Director & CEO, Mr. Thierno-Habib Hann, emphasized that ShafDB and BMI share a common vision: empowering the diaspora and residents of Zouératt to build their own homes.
“This partnership with BMI will help deliver affordable and decent housing to low-income households, addressing part of the 50,000-unit housing deficit in Mauritania, especially at a time when urbanization is growing at a rate of 4%,” Mr. Hann said.
BMI Managing Director Mohamed Yahya Sidi welcomed the partnership, saying his institution was honored to work with Shelter Afrique Development Bank to help finance affordable housing projects in Mauritania.
“This partnership strengthens our commitment to Mauritania’s socio-economic development, broadens our inclusive housing finance solutions, and confirms our support for the country’s ambitious urban development programme,” Mr. Sidi said.
BMI Managing Director Mohamed Yahya Sidi welcomed the partnership
Through this collaboration, it is estimated that around 5,000 jobs will be created, 12,400 people will benefit directly from the project, and 2,000 households will gain access to housing through self-build initiatives or direct purchase.
Established in 1981 in Lusaka, Zambia, Shelter Afrique Development Bank (ShafDB) is a pan-African multilateral development bank (MDB) dedicated to promoting and financing sustainable green housing, urban development, and related infrastructure. It operates through a shareholding of 44 African governments and two institutional shareholders: the African Development Bank (AfDB) and the African Reinsurance Corporation (Africa-Re).
ShafDB finances housing and related infrastructure across the value chain—both on the demand and supply sides—through its four business lines: the Financial Institutions Group (FIG), the Project Finance Group (PFG), the Sovereign and Public-Private Partnerships (PPP) Group, and the Fund Management Group (FMG).
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