The Abu Dhabi Fund for Development (ADFD) has extended a $30m (AED110m) concessionary loan to Mali, which wants to build 50,000 housing units.
ADFD has extended its multimillion dollar loan for a housing construction drive underway in Mali, Africa.
Mali’s government wants to build 50,000 units across 10 cities - Kayes, Koulikoro, Bamako, Sikasso, Segou, Timbuktu, Gao, Kidal, Menaka, and Taoudenn.
It comes amid "surging housing demand" in Mali, according to Emirates News Agency (WAM).
Mali, like a number of other African countries, has an annual population growth of more than 2%. To keep to with its growing population, Mali’s housing programme has delivered 9,521 residential units between 2002 and 2015, according to WAM. Since 2006, many of these homes have been delivered through public-private partnerships, as well as some direct government funding.
On ADFD’s efforts to support Mali’s programme to build and modernise housing, the director-general of ADFD, Mohammed Saif Al Suwaidi, said: “ADFD’s support for the National Social Housing Programme in Mali is aligned with its priority to finance development projects that improve the economic and social stability of communities in developing countries.
"As part of its sustained efforts to invest in infrastructure development projects, [ADFD] focuses on the housing sector that plays a crucial role in enhancing living standards and ensuring social security for citizens. We are committed to supporting the government of Mali in achieving its development and wider growth objectives."
To date, ADFD has provided $80m in loans and grants to help Mali finance seven projects.