IFC Partners with Addoha Cote d'Ivoire to Boost Affordable Housing Supply in Cote d'Ivoire
Cote Dlvoire, March 11 -- To support affordable housing development for thousands of people in Cote d'Ivoire, IFC today announced its first direct financing for a property developer in West Africa through a local currency financing package for Douja Promotion Groupe Addoha Cote d'Ivoire (Addoha CIV).IFC will loan Addoha CIV, a subsidiary of Moroccan-based real estate developer Douja Promotion Groupe Addoha, $27 million equivalent in West African CFA francs to support the construction and delivery of about 5,600 affordable housing units in the Greater Abidjan area. The total includes 4,600 houses for lower-middle to middle-income buyers and up to 1,000 houses for lower-income buyers.More than 23,000 people are expected to benefit from the qu...
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