WAEMU Affordable Housing Finance

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The development objective of the WAEMU Affordable Housing Finance Project for Western Africa is to expand access to long-term housing finance in WAEMU, including for undeserved households.the project will have a financing component (IDA scale-up facility credit to the West African Development Bank -Boad) and a technical assistance component (regional IDA grant to WAEMU).the IDA suf credit to BOAD requires a waiver from the board.although IDA financing to Boad would not benefit from the usual sovereign guarantee, the risk of non-payment is low.the financing to BOAD will comprise two components. First component, will provide long-term loans to banks secured against small mortgage loans. Second component, will extend funding for housing loans to non-bank financial institutions, serving the informal sector, and households with low incomes.