Taking place live from Lagos on 18& 19 November, the annual WAPI Summit is an in-person and global virtual experience.

To help address the liquidity gap in Nigeria’s mortgage finance market, Nigeria Mortgage Refinance Company Plc (NMRC) partnered with U.S.-headquartered MiDA Advisors and Johannesburg-headquartered Standard Bank Group to co-create a blended finance solution to mobilize long-term financing at scale. The transaction will include a $200 million loan from the U.S. International Development Finance Corporation (DFC) and $28 million in financing sourced from local financial markets, securing a total of $228 million long-term blended financing to NMRC.

The transaction and strategic partnership with DFC will provide the needed liquidity to support the country’s quest to bridge the housing deficit while driving more equitable economic growth and development. The facility will be disbursed through on-lending to primary lending institutions, i.e. commercial banks and primary mortgage banks, to refinance or pre-finance eligible mortgage loans to qualifying mortgage borrowers across Nigeria.