Shelter Afrique Development Bank has provided a $15 million loan to Banque Mauritanienne de l’Investissement (BMI). The goal is to support affordable housing in Mauritania.
The agreement was signed in Nouakchott. It aims to improve housing for low- and middle-income families across the country.
The loan will fund two key projects. First, 1,000 homes will be built in Zouérat, a town in northern Mauritania. Second, 1,000 fully serviced plots will be developed in Tevragh Zeina, a district in Nouakchott.
These plots will benefit both local residents and members of the Mauritanian diaspora.
According to Thierno-Habib Hann, Managing Director of Shelter Afrique, the project addresses urgent housing needs. He said Mauritania’s urban areas are growing fast, with a 4% annual increase. He added that the country has a housing deficit of about 50,000 units.
“Our partnership with BMI will help many families own safe and affordable homes,” he said.
Mohamed Yahya Sidi, Managing Director of BMI, shared his views on the agreement. He said the deal confirms BMI’s strong support for housing development.
“This project will support our economy and help more people access proper housing,” he said.
The project is expected to create around 5,000 jobs. It will benefit over 12,000 people and support 2,000 families. These families will either buy homes directly or build them themselves.
Shelter Afrique Development Bank was established in 1981. It is owned by 44 African nations, the African Development Bank, and the Africa Reinsurance Corporation.
The bank supports housing and infrastructure across Africa. It focuses on lending, partnerships, and sustainable urban development.
