The housing finance market in Mali remains small and under developed. Few banks currently offer a full mortgage product with Banque Malienne de Solidarite, Mali Housing Bank (BHM), Bank of Africa, and EcoBank being the main lenders although at minimal levels. The total annual housing need in Mali based on the household formation rate amounts to 82,500, split between 51,100 urban units and 31,400 rural units. Overall some social housing is constructed and support is provided by the state for low income housing through the Office Malienne de l’Habitat (OMH), but the numbers remain small. The Malien authorities have been working to strengthen financial sector stability which includes measures to stabilize the BHM and put it in a position where it begins to fulfill its mandate of providing credit for the housing sector. A strategy was approved by the council of Minister for a strategic disengagement by the state from the share capital of BHM. Initially the agreed plan was for BHM to be privatized. Overall progress in delivery of affordable housing will require a concerted effort among all stakeholders both in public and private sector. This should be supported through establishment of stakeholder coordination group to oversee change across the housing value chain.
Details
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Document Date
2015/12/01
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Document Type
Financial Sector Assessment Program (FSAP)
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Report Number
105295
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Volume No
1
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Total Volume(s)
1
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Country
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Region
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Disclosure Date
2016/05/10
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Disclosure Status
Disclosed
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Doc Name
Mali – Financial sector assessment program : development module – housing finance : technical note
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Keywords
Housing;housing finance;social housing;annual rate of population growth;Petites et Moyennes Entreprises;housing cooperative;affordable housing finance;access to financial service;increase in land price;form of collateral;housing sector;housing need;long term loan;mortgage loan;private sector loan;flow of remittance;housing finance sector;financial sector stability;payroll tax levy;
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Citation
Mali – Financial sector assessment program : development module – housing finance : technical note (English). Financial Sector Assessment Program (FSAP) Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/332261468193773210/Mali-Financial-sector-assessment-program-development-module-housing-finance-technical-note