| Financier | Commitments |
|---|---|
| International Bank for Reconstruction and Development | 250.00 |
Kenya Affordable Housing Finance Project
Abstract*
The development objective of the Affordable Housing Finance Project is to expand access to affordable housing finance to targeted beneficiaries. There is one component to the project, support to the Kenya Mortgage Refinance Company (KMRC). This component will support the establishment, capitalization and operationalization of KMRC. KMRC is modelled after other mortgage refinance companies supported by the WBG (e.g. in West Africa, Tanzania, Pakistan)... Show More
Development Objective
The development objective is to expand access to affordable housing finance to targeted beneficiaries
Key Details
Project Details
P165034
Active
Uloaku Oyewole , Isfandyar Khan, Sheila Kamunyori
Republic of Kenya
April 11, 2018
(as of board presentation)
April 30, 2019
June 2, 2020
US$ 366.00 million
Kenya National Treasury and Planning,Kenya Ministry of Lands, Public Works, Housing and Urban Development,Kenya Mortgage Refinance Company
2019
US$ 250.00 million
F
May 26, 2024
June 30, 2025
TBD
BANK APPROVED
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | 250.00 |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | 250.00 |
| Lending Instrument | |
|---|---|
| Grant Amount | N/A |
| Total Project Cost** | 366.00 |
Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Apr 30, 2019 | IBRD-89580 | Loan Commitment | 250,000,000.00 |
| Jul 15, 2023 | IBRD-89580 | Int Charges | 174,638.42 |
| Jul 15, 2023 | IBRD-89580 | Int Charges | 3,097.60 |
| Aug 31, 2023 | IBRD-89580 | Loan Disb | 101,551.25 |
| Aug 31, 2023 | IBRD-89580 | Loan Disb | 82,439.17 |
| Jul 15, 2023 | IBRD-89580 | Loan Disb | -1,364,816.80 |
| Jun 14, 2023 | IBRD-89580 | Loan Disb | 324,210.00 |
| Jan 15, 2023 | IBRD-89580 | Int Charges | 9,523.70 |
| Jun 20, 2023 | IBRD-89580 | Loan Disb | 1,001,503.30 |
| Jan 15, 2023 | IBRD-89580 | Int Charges | 6,698.30 |
| Jan 15, 2023 | IBRD-89580 | Int Charges | 179,748.90 |
| Mar 28, 2024 | IBRD-89580 | Loan Disb | 6,623,508.50 |
| Jul 15, 2021 | IBRD-89580 | Loan Disb | -4,729,916.00 |
| Jan 15, 2021 | IBRD-89580 | Int Charges | 295,621.88 |
| Jan 15, 2021 | IBRD-89580 | Int Charges | 305,430.03 |
| Jan 15, 2021 | IBRD-89580 | Int Charges | 71,443.77 |
| Jan 15, 2021 | IBRD-89580 | Loan Disb | -45,586,240.00 |
| Oct 16, 2020 | IBRD-89580 | Loan Disb | 23,436,000.00 |
| Oct 16, 2020 | IBRD-89580 | Loan Disb | 10,311,840.00 |
| Oct 16, 2020 | IBRD-89580 | Loan Disb | 10,311,840.00 |
| May 15, 2020 | IBRD-89580 | Fee Charges | 591,820.10 |
| Jan 15, 2023 | IBRD-89580 | Loan Disb | -9,056,885.00 |
| Nov 17, 2022 | IBRD-89580 | Loan Disb | 93,558.63 |
| Nov 28, 2022 | IBRD-89580 | Loan Disb | 8,677,798.00 |
| Jan 15, 2022 | IBRD-89580 | Int Charges | 255,909.88 |
| Jan 15, 2022 | IBRD-89580 | Int Charges | 971.56 |
| Jan 15, 2022 | IBRD-89580 | Loan Disb | -229,050.00 |
| Jul 15, 2022 | IBRD-89580 | Loan Disb | -43,345,992.00 |
| Jan 15, 2022 | IBRD-89580 | Int Charges | 237.95 |
| Jan 15, 2022 | IBRD-89580 | Int Charges | 1,381.37 |
| Jul 15, 2022 | IBRD-89580 | Int Charges | 212,112.28 |
| Jun 17, 2022 | IBRD-89580 | Loan Disb | 14,784,605.00 |
| Jun 17, 2022 | IBRD-89580 | Loan Disb | 27,562,400.00 |
| May 20, 2022 | IBRD-89580 | Loan Disb | 3,005,101.00 |
| Oct 22, 2021 | IBRD-89580 | Loan Disb | 232,740.00 |
| Jul 15, 2021 | IBRD-89580 | Int Charges | 264,345.20 |
| Jun 1, 2021 | IBRD-89580 | Loan Disb | 4,892,009.00 |
| Jul 15, 2024 | IBRD-89580 | Loan Disb | -7,214,609.00 |
| Jul 15, 2024 | IBRD-89580 | Int Charges | 121,261.45 |
| Jul 15, 2024 | IBRD-89580 | Int Charges | 98,760.80 |
| Aug 26, 2024 | IBRD-89580 | Loan Disb | 210,158.81 |
| Jul 15, 2024 | IBRD-89580 | Loan Repay | 167,444.80 |
| Mar 11, 2024 | IBRD-89580 | Loan Cancel | 49,239,000.00 |
| Jan 15, 2024 | IBRD-89580 | Int Charges | 3,450.59 |
| Jan 15, 2024 | IBRD-89580 | Int Charges | 171,547.66 |
| Jan 15, 2024 | IBRD-89580 | Int Charges | 3,453.76 |
| Jan 15, 2024 | IBRD-89580 | Loan Disb | -185,217.27 |
| Jan 15, 2024 | IBRD-89580 | Int Charges | 241.48 |
| Jun 14, 2024 | IBRD-89580 | Loan Disb | 670,965.75 |
| Jul 15, 2023 | IBRD-89580 | Int Charges | 13,359.34 |
| Jul 15, 2024 | IBRD-89580 | Int Charges | 205,107.98 |
| Jul 15, 2024 | IBRD-89580 | Int Charges | 28,163.97 |
| Jul 15, 2024 | IBRD-89580 | Int Charges | 1,647.41 |
| Jul 15, 2024 | IBRD-89580 | Int Charges | 716,949.80 |
| Jul 15, 2024 | IBRD-89580 | Int Charges | 171,812.73 |
| Jul 15, 2024 | IBRD-89580 | Int Charges | 27,603.83 |
| Jul 15, 2024 | IBRD-89580 | Int Charges | 3,443.12 |
| Jul 15, 2024 | IBRD-89580 | Loan Disb | 7,214,609.00 |
| Jul 15, 2024 | IBRD-89580 | Loan Repay | 1,175,327.50 |
| Jul 15, 2024 | IBRD-89580 | Loan Repay | 228,474.39 |
| Jul 15, 2024 | IBRD-89580 | Loan Repay | 33,177.70 |
| Jul 15, 2024 | IBRD-89580 | Loan Repay | 4,615.41 |
| Jul 15, 2024 | IBRD-89580 | Loan Repay | 109,162.68 |
| Jul 15, 2024 | IBRD-89580 | Loan Repay | 1,025,540.00 |
| Jul 15, 2024 | IBRD-89580 | Loan Repay | 5,455.00 |
| Jul 15, 2023 | IBRD-89580 | Int Charges | 1,694.22 |
| Jul 15, 2023 | IBRD-89580 | Int Charges | 737,321.44 |
| Jul 15, 2023 | IBRD-89580 | Int Charges | 176,694.67 |
| Jul 15, 2023 | IBRD-89580 | Loan Disb | 1,364,816.80 |
| Jan 15, 2024 | IBRD-89580 | Loan Disb | 185,217.27 |
| Jan 15, 2024 | IBRD-89580 | Int Charges | 27,693.65 |
| Jan 15, 2024 | IBRD-89580 | Int Charges | 205,775.38 |
| Jan 15, 2024 | IBRD-89580 | Int Charges | 28,255.61 |
| Jan 15, 2024 | IBRD-89580 | Int Charges | 1,652.77 |
| Jan 15, 2024 | IBRD-89580 | Int Charges | 719,282.70 |
| Jan 15, 2024 | IBRD-89580 | Int Charges | 172,371.80 |
| Jan 15, 2022 | IBRD-89580 | Loan Disb | 229,050.00 |
| Jul 15, 2022 | IBRD-89580 | Loan Disb | 43,345,992.00 |
| Jan 15, 2023 | IBRD-89580 | Loan Disb | 9,056,885.00 |
| Jan 15, 2023 | IBRD-89580 | Int Charges | 1,632.61 |
| Jan 15, 2023 | IBRD-89580 | Int Charges | 710,509.75 |
| Jan 15, 2023 | IBRD-89580 | Int Charges | 203,265.58 |
| Jan 15, 2023 | IBRD-89580 | Int Charges | 27,910.98 |
| Jul 15, 2023 | IBRD-89580 | Int Charges | 210,935.98 |
| Jul 15, 2023 | IBRD-89580 | Int Charges | 28,964.23 |
| Jan 15, 2021 | IBRD-89580 | Loan Disb | 45,586,240.00 |
| Jul 15, 2021 | IBRD-89580 | Loan Disb | 4,729,916.00 |
| Jul 15, 2021 | IBRD-89580 | Int Charges | 222,178.38 |
| Jul 15, 2022 | IBRD-89580 | Int Charges | 189,109.19 |
| Jul 15, 2022 | IBRD-89580 | Int Charges | 25,967.13 |
| Jul 15, 2022 | IBRD-89580 | Int Charges | 1,518.92 |
| Jan 15, 2022 | IBRD-89580 | Int Charges | 215,306.98 |
| Jan 15, 2022 | IBRD-89580 | Int Charges | 29,564.42 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Progress towards achievement of PDO | Moderately Satisfactory | 2025-04-03 |
| Procurement | Satisfactory | 2025-04-03 |
| Financial Management | Moderately Satisfactory | 2025-04-03 |
| Overall Implementation Progress (IP) | Satisfactory | 2025-04-03 |
| Project Management | Satisfactory | 2025-04-03 |
| Monitoring and Evaluation | Satisfactory | 2025-04-03 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Volume of bonds issued by KMRC Value 0.00 12000000.00 90000000.00 Date February 20, 2019 August 31, 2023 February 20, 2024 Comment Number of affordable mortgage / housing loans refinanced by KMRC Value 0.00 2876.00 30000.00 Date January 2, 2019 August 31, 2023 February 21, 2024 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Percentage mortgage / housing loans refinanced by KMRC extended to women Value 0.00 46.40 40.00 Date February 20, 2019 August 31, 2023 April 30, 2024 Comment Four strategies/studies/roadmaps completed and adopted by MLPP Value 0.00 0.00 4.00 Date February 20, 2019 August 31, 2023 February 23, 2024 Comment Average maturity of new mortgage loans refinanced by KMRC in the year Value 0.00 9.67 10.00 Date February 20, 2019 August 31, 2023 April 30, 2024 Comment Percentage of Project beneficiaries who feel project activities reflected their needs Value 0.00 0.00 80.00 Date February 22, 2019 August 31, 2023 April 30, 2024 Comment Volume of mortgage lending Value 2230000000.00 2022066708.00 3160000000.00 Date December 31, 2017 August 31, 2023 April 30, 2024 Comment Percentage of Non-Performing Loans in the residential mortgage sector Value 12.20 11.60 6.00 Date December 31, 2017 August 31, 2023 April 30, 2024 Comment Volume of affordable housing and mortgage loans refinanced by KMRC Value 0.00 60812674.27 225000000.00 Date January 2, 2019 August 31, 2023 February 22, 2024 Comment