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Housing: CFAF 1.984 billion in debt repaid on December 21, 2020

03/12/2020
Source : ORISHAS FINANCE
Categories: Economy/Forex

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On 21 December 2020, the Regional Mortgage Refinancing Fund of the West African Economic and Monetary Union (CRRH-UEMOA) will proceed, to the payment of half-yearly interest and the partial repayment of the capital of its two loans bonds called CRRH-UEMOA 6.05% 2018-2033 and CRRH-UEMOA 5.95% 2018-2030.

During the period from 30 October to 14 December 2018, the CRRH-UEMOA had issued, for the eighth time, on the financial market of the West African Monetary Union a bond issue of 30 billion CFA francs, in two tranches. The first concerns the CRRH-UEMOA 5.95% 2018-2030 loan of 25 billion FCFA at an interest rate of 5.95% and a maturity of 12 years. The disbursements to be made on December 21, 2020 amount to 1.681 billion FCFA including 650.781 million for interest and 1.041 billion for the repayment of capital.

The second tranche is the CRRH-UEMOA 6.05% 2018-2033 loan of 5 billion FCFA for an interest rate of 6.05% per year and a maturity of 15 years. The amount of repayments to be made for this second tranche amounts to 302.791 million FCFA including 136.125 million for interest and 166.666 million for capital.

The CRRH-UEMOA is a financial institution established in the form of a public limited company and a board of directors whose primary mission was the financing of housing projects in WAEMU countries.  Its capital amounts to b9.143 billion FCFA whose management is the responsibility of 56 WAEMU commercial banks whose shares represent 59% and 41% by 4 financial institutions: BOAD, the ECOWAS Bank for Investment and Development (EBID), Shelter Afrique and IFC, the Private Sector Finance Arm's subsidiary of the World Bank Group. 

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