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Add to Preferred SourcesPart of UNOPS Sustainable Infrastructure Impact Investments (S3I) initiative, the agreement will help address housing shortages in Ekiti State, with a focus on sustainability and local economic development.
Nigeria’s Ekiti State will join one of the largest affordable housing initiatives in the world, following a new agreement that will see at least 50,000 affordable homes built over the next decade.
The affordable homes will feature renewable energy and disease preventative technology – including solar panel roofs, waste-to-energy technology and mosquito-repelling coatings. The initiative is expected to create thousands of local jobs and spur economic growth among a host of local industries.
“We are very pleased to support this contribution to Nigeria’s national development priorities and in particular, to help meet the critical need for affordable housing, through innovative approaches to construction and mortgage financing,” said Vitaly Vanshelboim – Assistant Secretary-General and Chief Executive of UNOPS Sustainable Infrastructure Impact Investments (S3I) initiative.
UNOPS and SHS will seek to mobilize resources from third-party investors to fund the initiative – which has an estimated gross development value (based on the sales value of completed homes) of up to $2 billion.
To date, UNOPS S3I initiative has committed to delivering at least a million homes in multiple countries spanning three continents, to be built over the next decade.
Original source: UNOPS
Published on 01 July 2020