MICROCAPITAL BRIEF: International Finance Corporation (IFC) Takes 15% Stake In Banque De L'Habitat Du Burkina Faso To Support Housing Finance

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently announced that it signed an agreement with Banque de L'Habitat du Burkina Faso (BHBF) through which IFC will purchase a 15-percent stake in BHBF for USD 600,000 to support housing finance. IFC will purchase the stake from the government of Burkina Faso, which holds a 40-percent stake in the bank in advance of the transaction. In addition to the financial investment, IFC will also provide advisory services related to risk management, mortgage and property finance. Pierre Zerbo, CEO of BHBF, expressed optimism for the program saying, “The partnership between IFC and BHBF will be fruitful for both institutions, as it will expand access to housing for a large majority of Burkinabes.” In September 2009, IFC launched a program intended to....... Read the full story here. Contact MicroCapital to receive a complete sample issue of the MicroCapital Monitor, the monthly microfinance newspaper.