The African Development Bank (ADB) has signed a €80 million loan and guarantee agreement with the Banque d'Habitat and the Tunisian Ministry of Development and International Cooperation for the financing of low-cost housing in Tunisia.
"This second line of credit to Banque de l'Habitat will help to boost the share of resources available to the Banking system for the funding of housing of the low-cost type,"said Vice-President in charge of North, East and South Region Operations as well as the Private Sector, Theodore Nkodo. "It will help reinforce the capacity of the Banque de l'Habitat to finance the construction and acquisition of housing for low and middle income households as well as the parceling out and development of land for low-cost housing."
The line of credit will enable 3,091 property buyers to finance their first house on the maturity of their housing savings plans. It will involve the construction of 1, 219 low-cost houses by public and private property developers as well as the parceling out, development and servicing of 19.2 hectares of land for the construction of social and low-cost housing.
The ADB has so far provided Tunisian banks with 35 lines of credit. All of these facilities have been exclusively earmarked for industry, tourism and agricultural sectors. To date, the bank has committed $3.7 billion to 71 operations with disbursements of $2.4 billion. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
