IFC Invests in Bond to Support Access to Affordable Housing in Tanzania
Summary
"IFCs participation in the third tranche of TMRCs medium-term note program will support the continued growth of the housing finance market in Tanzania. "Increasing access to affordable housing finance, with longer repayment schedules, will make home ownership more attainable for Tanzanias emerging middle class." The bond listed today is the third tranche in TMRCs TZS 120 billion ($54 million) Medium-Term Note (MTN) program designed to develop the housing market in Tanzania. By gradually shifting the bulk of its financing needs to capital markets sources, the MTN program is expected to reduce TMRCs dependence on public sector funding. For more information, visit: https://ida.worldbank.org/psw IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets.