Trending
- Agribusiness could drive Africa’s economic prosperity
- Dawood Al Shezawi: Why AIM Congress 2024 is the epicenter of global economic and cultural dialogues
- d.light’s 600,000 cookstoves project verified as top source of quality carbon credits
- Artificial intelligence (AI) could create a turning point for financial inclusion in Africa
- AIM Congress 2024: Catalysing global investments with awards
- Kenya’s economic resurgence in 2024
- The most stressful cities to live in 2024 exposed
- Tech ventures can now apply for the Africa Tech Summit London Investment Showcase
Browsing: Kenya Mortgage Refinance Corporation (KMRC)
The funds will support the Kenya Mortgage Refinance Corporation
The World Bank has approved a USD250 million International Bank for Reconstruction and Development (IBRD) loan to support housing projects in Kenya.
The funds are expected to enhance access to affordable housing finance for Kenyans who are unable to access long-term housing finance.
The Kenya Affordable Housing Finance Project (KAHFP) will support the establishment and operationalization of the Kenya Mortgage Refinance Corporation (KMRC), a largely private sector-owned and non-deposit taking financial institution under the supervision of the Central Bank of Kenya.
KMRC’s goal is to drive affordability of mortgages by providing more long-term funding to financial institutions, an incentive to enable them to offer long tenure loans to homebuyers.
The project will also assist the Ministry of Lands and Physical Planning to improve property registration and address structural constraints in the land management system in Kenya.
“We believe that Kenya’s vibrant …