BADEA loans Côte d’Ivoire $75m for construction of 7,500 social houses

The Arab Bank for Economic Development in Africa (BADEA) and Cote d’Ivoire signed Monday a loan agreement worth $75 million to be used for the construction of 7,500 social and economic houses to address the housing crisis dogging the West African country.
Sidi Ould Tah, Director General of the bank and Adama Coulibaly, Finance Minister of the African country signed the deal Monday in Abidjan.
Authorities of the West African country are planning to erect 7,500 social and economic houses in the cities of Abidjan, Bouake and political capital Yamoussoukro with the loan.
The construction projects seek to answer the acute housing crisis that has been hitting the country and causing real estate inflation and illegal settlements. The country needs 600,000 house units as of now according to authorities.
The loan is inscribed in the government program worth $836 million aiming at building 150,000 house units by 2025.