|Approval Date||08 Nov 2017|
|Signature Date||26 Mar 2018|
|Planned Completion Date||31 Mar 2021|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||24030|
This project involves the provision of up to 15-year (including up to 3-years grace period) Sovereign Guaranteed Senior Loan to ZNBS of up to the equivalent of USD 25 mln in Zambian Kwacha (local currency) inclusive of a USD 1.4 mln Commercial Technical Assistance (TA) component. The Bank’s proposed funding will provide ZNBS with much needed long-term liquidity to expand its operations and support mortgage market development. The proposed SGSL aims to enhance ZNBS’s capacity to broaden the mortgage market in Zambia. ZNBS will use the funds to extend affordable mortgage products to lower middle and middle-income households. The TA will also provide critically needed support for the development of ZNBS’s capacity to assume its longterm strategic goal within the Zambian mortgage finance market.
The project will support Zambia National Building Society (ZNBS) in enabling institutional capacity and financing affordable housing in Zambia, thereby improving access to long-term affordable housing finance to Zambia’s lower-middle and middle-income earners currently with limited opportunities to access financing. It will enable ZNBS to expand and deepen Zambia’s housing finance sector and encourage orderly urban development for the provision of basic utilities such as water, sanitation, roads and electricity.
The main beneficiaries are Zambia National Building Society (ZNBS), the Zambian government, lower middle and middle-income earners.
African Development Bank
|Last Update||16 Jan 2020|
|Name||ATTOUT Ahmed Rashad|