PROJECT

Projects

Summary of Investment Information

Project Number

47741

Company Name

FIRST HOUSING FINANCE (TANZANIA) LIMITED

Date SPI Disclosed

Mar 12, 2024

Country

Tanzania

Region

Africa

Projected Board Date

Apr 12, 2024

Environmental Category

FI-3 - No Impact

Status

Pending Disbursement

Last Updated Date

Jul 3, 2024

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Jun 21, 2024
Signed : Jun 28, 2024

Sector

Primary Mortgage Institutions

Additional Project Attributes

Blended Finance

Project Description

The proposed investment Project entails a senior secure TZS-linked loan to First Housing Finance (Tanzania) Limited (FHF or the Company) in Tanzania. IFC will also mobilize additional funding from a parallel lender and provide a client risk management (CRM) swap to hedge foreign exchange rate risk. The Project seeks to mobilize funding to support FHF’s housing finance lending and strengthen its long-term funding profile. The Project will be supported by the IDA20 Private Sector Window Local Currency Facility (IDA PSW LCF).

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation