ADNA Advised Proparco On XOF 60 Billion Social Bond Issuance To Support Affordable Housing In West Africa

ADNA Advised Proparco on XOF 60 Billion Social Bond Issuance to Support Affordable Housing in West Africa

ADNA recently advised Proparco as lead counsel on the issuance of a XOF 60 billion social bond listed on the Bourse Régionale des Valeurs Mobilières (BRVM) – UEMOA, the West African regional stock exchange based in Abidjan. Proparco supported the issuance as the anchor investor for CRRH-UEMOA, the Regional Mortgage Refinancing Fund of the West African Economic & Monetary Union. To encourage participation by local private investors, Proparco also subscribed XOF 7.5 billion (approximately EUR 11.5 million) of the issuance alongside CRRH-UEMOA.

The proceeds from this bond will be fully dedicated to financing affordable housing across West Africa — a vital initiative in a region facing acute housing shortages. The project is expected to support the construction of nearly 2,000 homes and generate approximately 10,000 direct and indirect jobs, contributing significantly to the region’s socio-economic development.

The ADNA team was led by Sydney Domoraud Operi, with support from Associates Salimata Sow and Sigismond Konan. Martial Akakpo & Associés acted as Togolese counsel on the transaction.

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