Kenya, World Bank sign deal to boost supply of affordable housing units

NAIROBI, Aug. 25 (Xinhua) -- Kenya's state-owned National Housing Corporation (NHC) and the International Finance Corporation (IFC), the World Bank's private sector lending arm, on Thursday signed the financial advisory services agreement to boost the supply of affordable housing units in the east African nation.

Amena Arif, IFC country manager for East Africa and Malawi, told journalists in Nairobi, the capital of Kenya, that under the deal, IFC will help mobilize 7 billion shillings (about 58.4 million U.S. dollars) to fund the construction of 3,500 affordable housing units.