EAB Housing Finance Company

completed

The objective of the project is to establish one of the first specialized housing finance companies in Egypt (the company). The project will address the scarcity of long term financing for potential homeowners, and help develop a more efficient and innovative housing finance industry. In the long term, it will further contribute to the deepening of Egypt’s financial market, by enabling a vast number of Egyptians presently experiencing facility housing shortages to gain access to safe/improved housing and to obtain a higher standard of living. The development of a housing finance industry will also help boost housing investments and promote the growth of overall savings in the economy. The IFC's role in the project is two fold: IFC would assist in the development of a business strategy and operations of the company based on its experience in financing housing finance companies, i.e. where applicable, institutional building, and, IFC would seek to provide assistance to the company to raise long-term loans during its initial phase of operations, i.e. long-term funding and resource mobilization.