Shelter Afrique and BMI Sign $15 Million Loan Agreement to Support Affordable Housing in Mauritania
The Shelter Afrique Development Bank (ShafDB), a pan-African multilateral institution dedicated to financing housing and urban infrastructure, has signed a $15 million loan agreement with the Mauritanian Investment Bank (BMI). The objective is to support the development of affordable housing and improve access to financing for low- and middle-income populations.
Specifically, this financial support will be used to co-finance the construction of 1,000 homes in Zouératt and the development of 1,000 plots in Tevragh Zeina, targeting the Mauritanian diaspora and local residents. According to Shelter Afrique, this project is part of a larger strategy to address the estimated 50,000 housing deficit in the country, despite an urbanization rate of over 4% per year.
For Thierno-Habib Hann, General Manager of Shelter Afrique, this agreement reflects a shared vision: "This partnership with BMI will provide decent housing to low-income households, filling part of the structural deficit while stimulating the local economy," he emphasized.
The BMI also expressed satisfaction with the partnership. Mohamed Yahya Sidi, its General Manager, hailed "a partnership that reinforces BMI's commitment to socio-economic development in Mauritania and financial inclusion in the housing sector."
Beyond the bricks and mortar, the impact is also expected to be social and economic: according to Shelter Afrique's forecasts, this project should create around 5,000 jobs, directly benefit 12,400 people, and facilitate access to homeownership for 2,000 households through self-construction or turnkey acquisition.
