China to offer credit to build housing in Cape Verde

1 February 2010

Praia, Cape Verde, 1 Feb – Cape Verde’s Imobiliária Fundiária e Habitat (IFH) real property agency is finalizing the necessary documentation for the first part of a US$1 million credit line to be made available by China, the Praia-based Expresso das Ilhas newspaper has reported.

The credit line is meant for the construction of controlled-cost housing under the Cape Verdean government’s comprehensive “Housing for All” programme.

Work on the Nha Kasa project should begin this March. Another programme counting financing from China to build low-cost housing should also get under way in mid-summer, when the IFH meets all the requirements set by the financing bank.

“We consider it possible that during the first half of this year a mission from the bank will come to locally evaluate conditions enabling us to assure the project for the second half of the year. We believe we will definitively have access to the financing in the course of this year,” said IFH President João Vieira.

This controlled-cost housing construction programme should be developed on islands with more demographic pressure. (macauhub)