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| AFD contributes €5 million to the Lafarge microfinance project in Nigeria Lafarge and the French Development Agency (AFD) have launched a partnership in microfinance for affordable housing. The 5 million euros contribution from AFD to the LAPO microfinance bank, Lafarge's partner in Nigeria, will enable low-income families to finance the construction, expansion and renovation of their homes, improving their living conditions permanently. This project initiated by Lafarge helps meet local challenges of urbanization: Nigeria is the most populated country in Africa with over 170 million people in 2012 and the seventh most populated country in the world. AFD and Lafarge signed a partnership to deploy the Microfinance Program for Affordable Housing in Africa, following the creation of this program by Lafarge in June 2012. By pooling their expertise and working with LAPO - the largest microfinance bank in Nigeria with 900,000 clients and 323 branches - Lafarge and AFD seek to offer replicable, sustainable and appropriate housing solutions adapted to the needs of local population. AFD has over 70 years of experience in supporting the financing of projects that improve peoples' living conditions, including in Africa. AFD designs and implements financial products tailored to the needs and resources of households wishing to build or improve their homes. Through its local branches, it also enables the introduction of financing schemes and financial expertise assistance for microfinance institutions. In Nigeria, AFD enables LAPO to offer households an innovative housing financing solution, aligned with their needs and their level of indebtedness. Meanwhile Lafarge reinforces its expertise in the area of affordable housing. The Group assists participants at various stages of their construction project. Assisted by qualified advisers, families will receive personalized support, such as an architect visit or the development of construction plans. Lafarge has set the objective to enable 2 million people access to affordable housing by 2020. Lafarge implements projects based on sustainable business models. Microfinance projects for affordable housing are already in place in Indonesia, Philippines and Zambia. Other projects are also being launched in Morocco, Sri Lanka and Bangladesh. write your comments about the article :: © 2013 Construction News :: home page |