PROJECT

Projects

Summary of Investment Information

Project Number

40549

Company Name

CAISSE REGIONALE DE REFINANCEMENT HYPOTHECAIRE DE L’UEMOA

Date SPI Disclosed

Oct 18, 2017

Country

Africa Region

Region

Africa

Projected Board Date

Dec 19, 2017

Environmental Category

FI-3 - No Impact

Status

Active

Last Updated Date

Dec 5, 2017

Department

CFGS6 - Global Industry, Financial Markets/FIG Operations - CAF

Industry

Financial Markets

Previous Events

Approved : Dec 22, 2015
Signed : Dec 21, 2017
Invested : Dec 29, 2017

Sector

Secondary Mortgage Institutions

Additional Project Attributes

Blended Finance

Project Description

IFC’s proposed project with Caisse Régionale de Refinancement Hypothécaire de l’UEMOA (“CRRH”) aims to support CRRH’s local currency bond issuance program in order to: (i) contribute to the development of the housing market in the West Africa Economic and Monetary Union (“WAEMU” or the “Union”) and (ii) deepen the regional capital markets. The proposed project consists of an investment of up to XOF10 billion in CRRH’s 12-year bond and 15-year bond.

 

The project will be supported by the Local Currency Facility of the IDA18 IFC-MIGA Private Sector Window (PSW), created by the Word Bank Group to catalyze private sector investment in IDA countries, with a focus on fragile and conflict-affected states. The Local Currency Facility will help deepen the regional capital markets by supporting longer-term local currency bond issuances, and will contribute to make homeownership more affordable thanks to the extension of mortgage loans maturities.

Associated Advisory Engagement

The scope of the Advisory Services program is to be confirmed .

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation