International Finance Corporation (Burkina Faso)

IFC is deepening its support for Burkina Faso’s economy with an investment in a local bank that will increase the availability of mortgage financing in the country, allowing more people to purchase homes.

The $600,000 investment in Banque de l’Habitat du Burkina Faso was announced during a three-day trip to the West African country by Thierry Tanoh, IFC Vice President for Sub-Saharan Africa, Latin America and the Caribbean, and Western Europe.

During a signing ceremony in Burkina Faso’s capital, Ouagadougou, Tanoh said, “This investment reaffirms IFC’s commitment to supporting private sector development in Burkina Faso. The success of this program will require a strong commitment and continued cooperation from all parties in the housing value chain, including BHBF, developers, regulators, and other financial institutions.”

IFC will complement its investment with a strong advisory services program to strengthen the bank’s operations, particularly in the areas of risk management and mortgage and property finance, during its critical growth phase.