Mali launches mega housing construction drive to bridge deficit

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Mali launches mega housing construction drive to bridge deficit
Mali launches mega housing construction drive to bridge deficit

A mega housing construction drive is underway in Mali in the wake of a surging demand fueled by a fast growing population and increased rural-urban migration.

The West African nation plans to construct 50,000 housing units in major cities in the country.

The houses will be constructed in the cities of Kayes, Koulikoro, Bamako, Sikasso, Segou, Timbuktu, Gao, Kidal, Menaka, and Taoudenn.

The housing construction plan in Mali has received a shot in the arm after Abu Dhabi Fund for Development(ADFD) extended a $30m concessionary loan to the African country to go towards the housing project.

His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD and His Excellency Dr Boubou Cisse, Malian Minister of Economy and Finance, ratified the loan agreement held at the ADFD headquarters in Abu Dhabi.

Mr Boubou Cisse praised the historic relations Mali enjoys with the UAE, noting that ADFD funded its initial development project in Mali over four decades ago.

So far Mali’s housing programme has delivered 9,521 residential units between 2002 and 2015, according to WAM. Since 2006, many of these homes have been delivered through public-private partnerships, as well as some direct government funding.

Abu Dhabi Fund for Development enjoys long-standing and close ties with the Government of Mali dating back to 1976.

Since then, the Fund has provided loans and administered government grants amounting to AED294 million, allocated to financing seven vital projects in key economic sectors.

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