BHS Senior Loan (IFC-42808)

  • Senegal
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 31, 2023
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Construction
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 38.50 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 2, 2023

Disclosed by Bank Feb 27, 2023

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The Project consists of a multi-phase investment package in the amount of US$38.5 million to Banque de l’Habitat du Senegal, the leading housing finance bank in the country, to increase access to mortgages for low to middle income families and support developers to build more green and affordable houses. The first phase of the project consists in a debt instrument and subsequent investments might include debt, equity or quasi-equity instruments, to be decided upon and approved at a later date.The use of proceeds is earmarked for affordable housing retail mortgages and/or lending to developers.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The project is in the environmental category FI-2 according to the IFC.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

As disclosed by the IFC, the project is a multi-phase investment package in the amount of US$38.5 million to BHS. The first phase of the project consists in a debt instrument secured by a pledge over mortgaged receivables and the underlying accessory mortgages and subsequent investments might include debt, equity or quasi-equity instruments, to be decided upon and approved at a later date.

The first phase of IFC’s investment will be supported by (i) IDA20 Private Sector Window (PSW) Local Currency Facility (LCF), (ii) IDA20 PSW Blended Finance Facility (BFF) and the Market Accelerator for Green Construction (“MAGC”) Program, as described in the Blended Finance Section.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As reported by the IFC:

Established in 1979 and headquartered in Dakar, Senegal, BHS was created by the Government of Senegal to become the first specialized housing finance institution focusing on lower middle-income groups. As a systemic Bank in the housing segment in Senegal and the West African Africa Economic and Monetary Union region, BHS is currently the leading provider of developer housing finance in the country. BHS operates through a network of 25 branches spread across both rural and urban areas of the country, as well as the 6 representative offices in the US and France to capture diaspora savings for housing. 

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

Financial Intermediary - Banque de l’Habitat du Senegal:

Mamadou Bocar Sy - CEO
Phone: +2213383933453
Address: Boulevard Général De Gaulle BP.229 Dakar, Senegal


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If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.


The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at You can learn more about the CAO and how to file a complaint at

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