Djibouti Affordable Housing Finance Project (WB-P176772)

  • Djibouti
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
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
Dec 21, 2022
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.
Republic of Djibouti - Ministry of Economy and Finance, in Charge of Industry
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Construction
  • Finance
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 15.00 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.
Project Cost (USD)
$ 85.00 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 @ WB website

Updated in EWS Feb 8, 2023

Disclosed by Bank May 28, 2022

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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.

According to the World Bank, the project objective is to expand access to affordable housing finance for underserved populations in Djibouti’s territory.

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.

According to thw World Bank:

The Project aims to support the Government of Djibouti in its efforts to implement priority and necessary activities to create a minimum platform of conditions to develop access to affordable housing. Currently the lack of affordable and commercial housing finance solutions remains a major issue. Affordable housing supply is coming to the market through public developers, but buyers have no access to commercial financing due to the banks’ risk aversion towards low-income groups. The project seeks to transition financial solutions
implemented by public developers to the commercial financial system, and will:

Expand access to affordable housing finance to underserved households through a mortgage partial guarantee mechanism
Introduce innovative financing solutions for the self-construction of affordable housing targeting low-income households to involve microfinance institutions; and convert existing rent-to-own contracts to low-and-middle-income households into mortgage loans
Support policy reforms to lower construction cost.

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

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.

World Bank's Team Leaders:

Caroline Marie Cecile Cerruti Hailey - Senior Financial Sector Specialist
Marie Christine Apedo Amah - Economist


Republic of Djibouti - Ministry of Economy and Finance, in Charge of Industry
Ilyas Moussa Dawaleh

Minister of Economy, Finance and Industry

Implementing Agencies:

Agence de Réhabilitation Urbaine et du Logement Social (ARULOS)
Abdourahman Ali Ahmed


Fonds de Garantie Partielle des Credits de Djibouti (FGPCD)
Aouad Mouti
Director General 


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The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing Information on how to file a complaint and a complaint request form are available at:

How it works

How it works