PROJECT PRESENTATION
Implementing a policy of building affordable social and economic housing for the poorest households, especially those with unstable incomes in the informal sector, has always been a concern of the Côte d’Ivoire government.
To this end, the Côte d’Ivoire government has launched a presidential program to build 150,000 social and economic housing units. To facilitate its implementation, the Ivorian government has decided to implement an emergency program of 25,000 social and economic housing units in Abidjan and the interior of the country, at an estimated cost of around 500 billion FCFA. The pilot phase of this project will involve the construction of 4,300 housing units.
The phasing adopted for financing the 4,300-home project is as follows: phase 1 PK 24 (1,160 homes), phase 2 PK 24 (1,200 homes); phase 3 Yamoussoukro (420 homes) and phase 4 Bouaké (1,520 homes).
Under the first phase of the PK 24 program, BOAD’s support resulted in the signature of a credit agreement for a total amount of FCFA 40 billion.
PURPOSE, OBJECTIVES AND COMPONENTS
The purpose of this project is to : i) the construction of 4,300 social and economic housing units as follows: 2,360 units in Abidjan PK 24, 420 units in Yamoussoukro and 1,520 units in Bouaké; ii) development of three (03) sites covering a total area of 23 ha in Abidjan, Yamoussoukro and Bouaké. This is BOAD’s first operation, involving the construction of 1,160 housing units in Abidjan (Zone industrielle de Yopougon du PK 24) and site servicing.
The overall aim of the project is to help improve the living environment and reduce poverty in Abidjan and inland communes.
The specific objectives of the project are to : (i) provide decent housing for vulnerable populations at affordable costs; (ii) promote new ways of accessing housing for low-income populations; and (iii) promote job creation in the sector.
The project comprises the following eight (08) components: (i) Studies ; (ii) Civil engineering works ; (iii) Work control and supervision ; (iv) Delegated project management ; (v) Environmental and social measures ; (vi) Institutional support and capacity building ; (vii) Technical and Financial Audit and (viii) Monitoring and evaluation.
COST AND FINANCING
The total pre-tax cost of the 4,300-home project, including 3% physical contingency and 3% financial contingency, is estimated at 147,374 M FCFA excluding VAT. The cost of the first tranche, submitted to the Bank, is 43,295 M FCFA. BOAD’s contribution in the form of a direct loan for phase 1 covers 92.39% of the phase’s total cost excluding taxes, i.e. FCFA 40,000 million. This first intervention will be used to partially finance the “Civil Engineering Works” component; and fully finance the “Works Control and Supervision”, “MOD”, “Institutional Support and Capacity Building”, “Technical and Financial Audit” and “Monitoring and Evaluation” components. Environmental and social measures will be paid for by the government.
PROJECT DEVELOPMENT IMPACT
In terms of contribution to improving living conditions and reducing poverty:
construction of a total of 4,300 housing units, including 1,160 in Abidjan for phase 1;
development of 23 hectares of housing ;
Promoting new ways of accessing housing for low-income and vulnerable populations:
4,300 households have access to housing.
Job creation:
the creation of some 657 indirect and induced jobs;
contribute to the creation of around 500 direct jobs during project implementation.
Wealth creation:
a minimum of 14,609 M F CFA of indirect and induced added value is generated per year;
an average of at least 579 M F CFA in indirect and induced tax revenues per year.
