The European Bank for Reconstruction and Development is investing up to €9.6 million in AFINHAB’s €61 million social bond to support access to affordable housing finance in Benin, Côte d’Ivoire and Senegal.
AFINHAB is a regional housing finance institution serving countries in the West African Economic and Monetary Union, known as WAEMU, the EBRD said in a statement on Tuesday.
The bond is being issued through a public offering and will be listed on the Bourse Régionale des Valeurs Mobilières, the regional stock exchange for WAEMU member states.
The EBRD said its investment will allow AFINHAB to refinance eligible mortgage loans that were originated by partner financial institutions in the three countries.
This is expected to increase the availability of longer-term funding in local currency for housing loans, which remains limited in many markets in the region.
Bond listing and support for local markets
The bond issuance is AFINHAB’s second social bond, the bank said.
The EBRD will also provide technical assistance to AFINHAB, including support for institutional development, strategic planning and knowledge sharing.
The development bank began investing in sub-Saharan Africa in 2025 and has invested €350 million in the region in less than a year.
