EBRD and AFINHAB support affordable housing finance in Benin, Côte d’Ivoire and Senegal

• EBRD investing €9.6 million in AFINHAB’s second social bond issuance
• Investment will help low- and middle-income households (including women-led households) to access affordable housing finance in Benin, Côte d’Ivoire and Senegal
• Bond will be listed on Bourse Régionale des Valeurs Mobilières, supporting capital market development

The European Bank for Reconstruction and Development (EBRD) is supporting access to affordable housing finance in Benin, Côte d’Ivoire and Senegal by investing up to €9.6 million (XOF 6.3 billion equivalent) in a €61 million (XOF 40 billion equivalent) social bond issuance by AFINHAB.

AFINHAB (formerly CRRH-UEMOA) is the regional housing finance institution serving the countries of the West African Economic and Monetary Union (WAEMU).

The bond is being issued through a public offering and will be listed on the Bourse Régionale des Valeurs Mobilières. It is AFINHAB’s second social bond, reinforcing the institution’s role in channelling long-term financing towards social priorities across the region.

The EBRD’s investment will enable AFINHAB to refinance eligible mortgage loans originated by partner financial institutions in Benin, Côte d’Ivoire and Senegal. The operation is expected to improve access to housing finance for low- and middle-income households (including women-led households) by increasing the availability of long-term local-currency funding, which remains scarce across many markets in the region.

In addition to its social impact, the project will also support the development of regional capital markets by mobilising long-term local-currency financing through a publicly listed bond.

Alongside the investment, the EBRD will provide technical assistance in order to build capacity at AFINHAB and further enhance its approach to inclusive housing finance. The programme will support institutional development, strategic planning and knowledge sharing, helping to broaden access to housing finance solutions across the WAEMU region.

The EBRD started investing in sub-Saharan Africa in 2025 and has invested €350 million in the region in less than a year.