EBID Signs FCFA7billion Loan Agreement with Banque de l’habitat du Sénégal (BHS)

Left: President of EBID, Mr. Bashir Mamman IFO. Right: managing Director of the BHS, Mr. Mamadou Bocar SY

On the 2nd of October 2017, EBID signed a loan agreement in the amount of seven billion francs (FCFA7bn) with Banque de l’habitat du Sénégal (BHS) in Dakar, to support a low cost urban housing project in Diamniadio and also contribute to the country’s development plan (Plan Senegal Emergent or PSE) in which housing is a key component.

Speaking in the presence of the Senegalese Minister delegate for Urban Development, Mr. Seydou SY SALL, the President of EBID, Mr. Bashir Mamman IFO, who was accompanied by the Vice-President in charge of Operations, Mr. Abdoulaye FALL, and the Director of Legal and Corporate Services, Mr. Mamadou Saidou CAMARA; said that the Bank was pleased to contribute to the programme because the availability of housing, amounts to satisfying a basic need. He also said that the FCFA7bn line of credit would reinforce the capacity of the BHS and also support entrepreneurship in Senegal. Mr. IFO further said that the loan agreement confirmed the Bank’s commitment to support the promotion of the private sector and also contribute to the Development of Senegal adding that, the total commitment of EBID in favour of the private sector in the country was about ninety-four billion three hundred and forty-six million francs (FCFA94.346bn) for infrastructure projects relating to energy, telecommunication and rural development.

The President of EBID further said that sixty-two percent (62%) of EBID financing in Senegal has been for promoting and developing the private sector through projects such as participation in the financing of the extension of the Dakar Ports Authority in the amount of thirteen billion one hundred and eleven million two hundred and fifty-five francs (FCFA13 111 255bn); participation in the construction of the SENELEC 60MW “Kounoue II” diesel station in the amount of ten billion six hundred and four million seven hundred and forty-nine francs (FCFA10 604 749bn); the reinforcement and extension of the SONATEL fixed and mobile telephone network, in the amount of seven billion six hundred forty-nine million and eighty-three francs (FCFA7 649 083bn) and the extension and debt buy back of SATRAC in the amount of four billion six hundred and five million francs (FCFA4 605b).

With regard to the Diamniado housing programme, the Managing Director of the Banque de l’habitat du Sénégal (BHS), Mr. Mamadou Bocar SY, noted that EBID was the first donor to commit to the financing request forwarded to four (4) institutions. Mr. SY who was accompanied by the Deputy Managing Director, Mr. Khalifa Abebecar SARR and other senior staff of the company, also pointed out that, the purpose of the project was to “enable Dakar drive growth through high value added integrated activities”.

Mr. SY further said that, the Diamniado housing programme comprises similar projects envisaged for Lac Rose and Daga Holpa areas respectively adding that, BHS had used its own resources to assist five (5) estate developers produce two thousand six hundred and sixty (2660) housing units in the amount of twenty-six billion francs (FCFA26bn).

With regard to buyers, Mr. SY stated that, they required financing in the sum of eighty-two billion francs (FCFA82bn), adding that, the BHS experience could serve, and has served as an example in other countries within the sub-region such as Cote d’Ivoire, Mali, Benin, Niger, Gabon etc.