DCM TMRC Investment

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The proposed Project consists of a funding package to Tanzania Mortgage Refinancing Company (“TMRC” or “the Company”), comprising of (a) a straight equity investment of up to US$2 million and (b) participation in TMRC’s Medium Term Note (“MTN”) Programme of up to US$10 million equivalent in Tanzania Shillings (“TZS”). The Project will strengthen TMRC’s balance sheet and enable long-term support for the growth of the mortgage financing market in Tanzania. The Project will be supported by the Local Currency Facility (“LCF”) of the IDA18 IFC-MIGA Private Sector Window (”IDA 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 LCF 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.