ABIDJAN, March 11 (Xinhua) -- The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has signed an agreement to provide financing for low-cost housing in Cote d'Ivoire by granting a loan of 27 million U.S. dollars.

The financing agreement between the IFC and the Moroccan real estate group Addoha was signed on Monday in Abidjan, the largest city of Cote d'Ivoire, in the presence of Prime Minister Robert Beugre Mambe.

This loan is expected to enable the real estate group to accelerate the implementation of its project, which aims to build nearly 5,600 affordable housing units in Abidjan.

In June 2023, the government of the West African country and the IFC signed a consultancy program to mobilize private sector investments for the construction of quality social and economic housing.

According to the Prime Minister's Office, this agreement, which is part of the Presidential Program for the Construction of Social and Economic Housing, will help consolidate the government's efforts, which have already resulted in the completion of over 40,000 housing units since the program's launch in 2012.

Several construction sites have already been completed or are underway in the Abidjan metropolitan area, and the government aims to build 150,000 housing units by 2030. Enditem

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