Housing Shortage Sends Rwanda Scouting for $300m Financing

By Kabona Esiara

Rwanda is seeking Rwf264 billion ($300 million) from international lenders in the coming months to address the shortage of housing on the market.

The EastAfrican has learnt that the World Bank Board is expected to approve a $150 million long-term credit line to finance Rwanda's housing needs on September 27, while the government expects an additional $150 million from the International Finance Corporation (IFC) and India Housing Bank.

"The IFC is leading the credit mobilisation process," said Claver Gatete Infrastructure Minister, adding that government is also making land available and introduced a 30 per cent tax rebate for developers of high density housing units.

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