Developing Housing Finance Solutions for the West African Economic and Monetary Union

  • City: N/a
  • Client: The World Bank
  • Country: Benin, Burkina Faso, Cote d’Ivoire, Guinea Bissau, Mali, Niger, Senegal, Togo
  • Date: 2016

Expanding access to housing finance across countries of the West African Monetary Union (WAEMU) is necessary to help address the growing shortage of housing which is expected to rise as population grows and urbanization accelerates. Considerable benefits will also accrue in terms of job creation (including in the informal sector), business opportunities for the private sector, financial sector deepening, and multiplier effects on shared growth and prosperity. The objective of this project was to assist the West African Development Bank (Banque Ouest Africaine de Développement; BOAD) in facilitating an expansion in the reach of housing finance across all income groups in WAEMU member countries. This will be achieved by improving access to long-term finance for lenders, improving property rights to facilitate collateralized transactions and expanding the range of affordable housing finance products targeted at those on lower incomes. As part of this project AHI designed and recommended options to expand affordable housing finance, which were accompanied by an assessment of their pros and cons.