Last Friday, October 31, the National Bank for Economic Development (BNDE) and the Social Housing Fund (FHS) have signed a memorandum of understanding marking the operational implementation of Green fund for social housing.

Senegal takes another step forward in implementation of its national strategy for sustainable and inclusive housing. The Green Fund for Social Housing, an innovative financial mechanism intended to support the ecological transition of the housing sector. This agreement, through a Memorandum of Understanding (MoU), seals a strategic alliance between the sector banking and public institutions to finance high-impact projects social and environmental.

The signing ceremony was presided over by Momath Talla Ndao, Secretary of State for Housing, in Dakar in the presence of Mamadou Faye, managing director of the BNDE, and Ibrahima Diop, administrator of the FHS. La Through this agreement, BNDE is committed to mobilizing 3 billion FCFA (approximately 4.9 million USD) under the Green Fund. His ambition is to be an actor engine of sustainable finance in Senegal. Indeed, the institution foresees no only to generate a dedicated financing line, but also to structure an innovative financial vehicle designed to attract resources long, especially from green and climate markets.

According to Mamadou Faye, CEO of the BNDE, “this commitment reflects our conviction that green finance can be a concrete lever for social justice and ecological transition”.

The bank indicates that it will also make available the technical expertise of its teams for identify projects that comply with international environmental standards and adapted to local realities: energy-efficient buildings, local materials, and integration of renewable energies.