Social Housing: BOA Togo and Yayra Estate team up to make housing more accessible

Economic governance
Thursday, 02 March 2023 03:41
Social Housing: BOA Togo and Yayra Estate team up to make housing more accessible

(Togo First) - Bank of Africa (BOA) Togo and Yayra Estate signed yesterday a financing agreement for a social housing project. The project, located in Djagblé (15 km north of Lomé), will cover 25 ha and house 2,500 high-standing but affordable apartments.

As part of their agreement, BOA will provide loans to those interested in buying apartments. “Under this partnership, we are willing to grant these credits and repayment will be made over 15 or 20 years,” said the Director General of BOA Togo, Youssef Ibrahimi.

On the other side, King Akoete Dodjro, Managing Director of Yayra Estate, said they have“negotiated the best terms to ease access to these loans.”

According to both parties, the new deal is a significant milestone for the development of social housing in Togo and a major support to the government’s efforts to bolster this sector for the good of low-income households."The BOA supports this project because it is very ambitious and it is part of the government's policy to promote access to decent housing at a very affordable cost," said Youssef Ibrahimi.

The government, let’s recall, expected 20,000 social housing units to have been built by 2022 but this date was extended to 2025 due to the Covid-19. In line with this objective, Shelter Afrique had committed to funding the construction of 3,000 units and should mobilize other investors to finance the project.

Esaïe Edoh

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