World Bank Approves $150m housing loan

World Bank Approves $150m housing loan
Published: 01 July 2005

The World Banks Board of Directors approved today a US$150 million loan to support the efforts of the Moroccan government in the process of reforming an enabling environment for the housing sector and significantly expanding the access of the urban poor to decent housing. The Housing Sector Development Policy Loan (HSDPL) supports the implementation of the Government of Morocco policy reforms and programs in the housing sector.

It seeks to contribute to the improvement of the overall functionality of the housing sector, reducing the current market distortions and enabling private sector companies to participate more fully in the production and commercialization of housing goods. At the same time, the new project willassist the Government with the definition and implementation of specific policies and programs targeted to the urban poor, and especially the slum-dwellers, that would continue to benefit from public subsidies.