Shelter Afrique Development Bank (ShafDB) has received support of up to $120 million from the Arab Bank for Economic Development in Africa (BADEA) to boost its financial strength and operational capacity.
Shelter Afrique Development Bank has been a front-runner in providing affordable housing and urban development. By offering resources on more favorable terms, member states will be able to commit more funds to ShafDB.
This initiative introduces an innovative financial mechanism that will allow eligible member states to access on-lending at competitive terms.
According to Thierno Habib Hann, the Managing Director of Shelter Afrique Development Bank, he sees the move as a critical step in strengthening the capital base and financing the mission of maintaining affordable housing and sustainable infrastructure in Africa.
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Additionally, the capital increase program includes an equal allocation to all member states, followed by staggered redistribution first on a pro-rata basis, and then on a first-come, first-served basis. This approach encourages member state participation and strengthens ShafDB’s capital adequacy in a transparent manner.
“We see this capital program as a strategic milestone in Shelter Afrique Development Bank’s evolution. BADEA is proud to back this initiative, and we remain committed to our shared mission of ensuring affordable housing and the sustained growth of development in Africa,” Abdullah KH ALMUSAIBEEH said.
On the other hand, Mr. Hann highlighted that the strengthened capital base will enable the bank to scale up financing along the housing value chain and access more competitive funding from both international and African markets.
