Zambia - Zambia National Building Society

This project involves the provision of up to 15-year (including up to 3-years grace period) Sovereign Guaranteed Senior Loan to ZNBS of up to the equivalent of USD 25 mln in Zambian Kwacha (local currency) inclusive of a USD 1.4 mln Commercial Technical Assistance (TA) component. The Bank’s proposed funding will provide ZNBS with much needed long-term liquidity to expand its operations and support mortgage market development. The proposed SGSL aims to enhance ZNBS’s capacity to broaden the mortgage market in Zambia. ZNBS will use the funds to extend affordable mortgage products to lower middle and middle-income households. The TA will also provide critically needed support for the development of ZNBS’s capacity to assume its longterm strategic goal within the Zambian mortgage finance market.