Reference: 20160898
Release date: 25 April 2017

Promoter – Financial Intermediary

INTERNATIONAL HOUSING SOLUTIONS FUND II

Location

Description

Equity fund for affordable and energy-efficient housing projects in Namibia and Botswana

Objectives

The fund will focus on the acquisition and development of affordable residential resource-efficient green housing and support privately financed real estate in Sub-Saharan Africa with a focus on Namibia and Botswana.

Sector(s)

Proposed EIB finance (Approximate amount)

USD 20 million (EUR 18 million)

Total cost (Approximate amount)

USD 75 million (EUR 67 million)

Environmental aspects

The project comprises a programme of investments in social housing by International Housing Solutions, an investment fund operating through local property developers in Namibia and Botswana, entailing a mix of new-build single family and multi-family buildings in urban and suburban areas. The EIB will require that each of those investments meet all local and EIB environmental requirements.

Procurement

The project will follow applicable rules for private procurement, using the fund's existing practice of contracting and monitoring contracts with local property developers. The promoter will be required to apply EIB procurement requirements to all cases where it enters into any relationship with public sector entities.

Status

Signed - 22/12/2017

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Related tags

Namibia Botswana Urban development