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Guinea-Bissau

Blended finance unlocks the keys to affordable housing across west Africa

Martin Spicer's picture
Also available in: Français
Houses under construction. © John Hogg/World Bank
Houses under construction. © John Hogg/World Bank

Affordable housing is a major challenge across West Africa, where fewer than 7 percent of households can afford to buy their own home. The situation is particularly acute in the countries of the West African Economic and Monetary Union (WAEMU) -- Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo – where demand for decent housing far outstrips supply.

But a new financing tool developed by the World Bank Group, is helping thousands of families across the WAEMU access private housing finance and finally achieve their dreams of owning their own home.

The tool is the $2.5 billion IDA18 IFC-MIGA Private Sector Window (IDA PSW), launched in July 2017 to help catalyze private sector investments and create jobs in the lowest income countries eligible for financing from the World Bank’s International Development Association.

5 Ways Marine Parks Benefit People

Amanda Feuerstein's picture
Photo via Shutterstock​Marine Protected Areas will be a topic for discussion at the IUCN World Parks Congress, which is opening today in Sydney.  And it should be: MPAs—which are marine spaces that restrict human activity and manage resources to achieve long-term conservation of nature—are one of the many tools for better ocean management.  This is one of the reasons the World Bank Group supports efforts to establish MPAs in countries including Indonesia and Brazil.

Every MPA is not created the same; some allow fishing and some do not, some are small and some are large, some are connected and some stand alone. When they are well planned and well executed, MPAs can help feed communities, protect jobs and boost biodiversity in the ocean. Here are the top five reasons why MPAs can be GREAT!

1. Spill Over Effects

The benefits of an MPA extend far beyond the boundaries of protection. When well planned, MPAs act as the home base for migratory species. These species use the protected area to reproduce, feed or congregate. But they do not stick around for long. This is called the “spill over effect” and it is hugely beneficial to local fishing communities. Even if fishing is restricted inside the MPA, just outside the border the fish are more numerous and far larger. For example, in Indonesia, community income increased 21 percent in 258 villages near a network of six protected areas.