EG Inclusive Housing Finance Program Additional Financing

Development Objective

The objective of the Program is to improve the affordability of formal housing for low-income households in the Arab Republic of Egypt and to strengthen the SHMFF's capacity to design policies and coordinate programs in the social housing sector.

Key Details

Project Details

Project ID
P168582
Status
Active
Team Leader
Jean Lobet , Laila Ahmed, Laurent Gonnet
Borrower 2
Arab Republic of Egypt

Country
Egypt, Arab Republic of
Disclosure Date
April 1, 2019
Approval Date
(as of board presentation)
March 20, 2020
Effective Date
N/A

Total Project Cost 1
US$ 500.00 million
Implementing Agency
Social Housing and Mortgage Finance Fund
Region
Middle East and North Africa
Fiscal Year 3
2020

Commitment Amount
US$ 500.00 million
Environmental Category
N/A
Last Update Date
October 5, 2020
Closing Date
December 31, 2025

Consultant Services required
TBD
Last Stage Reached
BANK APPROVED
Parent Projects
P150993

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Environment and Natural Resource Management

FY17 - Climate change17%
- FY17 - Adaptation9%
- FY17 - Mitigation9%

FY17 - Finance

FY17 - Finance for Development99%
- FY17 - Housing Finance99%

FY17 - Human Development and Gender

FY17 - Gender50%

FY17 - Private Sector Development

FY17 - Public Private Partnerships17%

FY17 - Public Sector Management

FY17 - Public Administration1%
- FY17 - Transparency, Accountability and Good Governance1%

FY17 - Urban and Rural Development

FY17 - Disaster Risk Management20%
- FY17 - Flood and Drought Risk Management20%
FY17 - Rural Development17%
- FY17 - Land Administration and Management17%
FY17 - Urban Development50%
- FY17 - Services and Housing for the Poor50%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	500.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	500.00
IDA Commitment	N/A
IBRD + IDA Commitment	500.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	500.00

Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025

No data available.

Detailed Financial Activity as of March 31, 2025

No data available.

Footnotes

Ratings

IMPLEMENTATION RATINGS

No data available.

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

No data available.

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

1.1 Number of targeted households accessing ownership and rental housing units with support from the Program Value 0.00 243450.00 1052400.00
Date April 1, 2015 May 31, 2019 December 31, 2024
Comment
2. Percentage of Program beneficiaries in bottom 20% of the income distribution Value 0.00 34.20 50.00
Date April 1, 2015 May 31, 2019 December 31, 2024
Comment
3. Percentage of income spent on housing costs by Program beneficiaries Value 0.00 35.00 30.00
Date April 1, 2015 May 31, 2019 December 31, 2024
Comment
4. Establishment of a housing M&E system functioning and informing the Multi-Year Plan and Annual Targets Value No Yes Yes
Date April 1, 2015 May 31, 2019 December 31, 2024
Comment
1.2 female-headed households as a percentage of benefeciaries Value 0.00 19.80 24.00
Date April 1, 2015 April 29, 2018 June 30, 2020
Comment
5. Development, adoption and implementation of an alternative system that progressively phases out the interest rate subsidy Value No No Yes
Date May 31, 2019 May 31, 2019 December 31, 2024
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

3.1. Number of households receiving demand side home ownership subsidies for new units under the AMP Value 0.00 241500.00 950000.00
Date August 10, 2015 May 31, 2019 December 31, 2024
Comment

4.1. Percent of demand-side subsidies supporting the purchase or rental of housing units within a 60 minute travel time to an employment center	Value	0.00	100.00	50.00
	Date	August 10, 2015	May 31, 2019	December 31, 2024
	Comment

5.1. Number of demand-side subsidies supporting the purchase or rental of housing units developed by the private sector Value 0.00 1950.00 250000.00
Date August 10, 2015 May 31, 2019 December 31, 2024
Comment
1.1. Completed executive by-laws, organizational structure, financing model, fiduciary arrangements, operating systems for the SHMFF Value No Yes Yes
Date August 10, 2015 May 31, 2019 December 31, 2024
Comment
2.1. Mechanism to monitor occupancy of housing post-subsidy established and functioning as per DLI definition Value No Yes Yes
Date August 10, 2015 May 31, 2019 December 31, 2024
Comment
1.2. SHMFF fully staffed as per organizational plan Value No Yes Yes
Date August 10, 2015 May 31, 2019 December 31, 2024
Comment
2.2. Percentage of rental housing units occupied by targeted beneficiaries at least 1 year after lease Value 0.00 100.00 75.00
Date August 10, 2015 May 31, 2019 December 31, 2024
Comment
5.2. PPP guidelines publicly disseminated Value No Yes Yes
Date August 10, 2015 May 31, 2019 December 31, 2024
Comment

4.2. Percent of demand-side subsidies supporting the purchase or rental of housing units within a 45 minute travel time to an employment center	Value	0.00	100.00	50.00
	Date	August 10, 2015	May 31, 2019	December 31, 2024
	Comment

3.2. Number of households participating in rental subsidy programs Value 0.00 1950.00 102400.00
Date August 10, 2015 May 31, 2019 December 31, 2024
Comment

2.3. Percentage of ownership housing units occupied by low-income households after at least 1 year of receiving subsidies under theAMP	Value	0.00	100.00	85.00
	Date	August 10, 2015	May 31, 2019	December 31, 2024
	Comment

5.3. Percentage of demand side subsidy supporting the purchase or rental of housing units developed by private sector Value 0.00 0.76 43.00
Date August 10, 2015 May 31, 2019 December 31, 2024
Comment

4.3. Percent of demand-side subsidies supporting the purchase or rental of housing units within a 30 minute travel time to an employment center	Value	0.00	100.00	15.00
	Date	August 10, 2015	May 31, 2019	December 31, 2024
	Comment

1.3. Internal audit function providing assurance services for the ownership and rental programs affiliated with the SHMFF established and operating	Value	No	Yes	Yes
	Date	August 10, 2015	May 31, 2019	December 31, 2024
	Comment

3.3. Number of previously vacant units occupied 1 year after inclusion into the Program Value 0.00 85057.00 30000.00
Date August 10, 2015 May 31, 2019 December 31, 2024
Comment
1.4. Adequate staffing of social officers as per organizational plan Value No Yes Yes
Date August 10, 2015 May 31, 2019 December 31, 2024
Comment
4.4. Percentage of land made available for SHMFF developments that complies with location and service criteria stated in Law Value 0.00 100.00 100.00
Date August 10, 2015 May 31, 2019 December 31, 2024
Comment
2.4. Establish a unified social programs and beneficiary databases Value No Yes Yes
Date August 10, 2015 May 31, 2019 December 31, 2024
Comment

1.5. Number of capacity building and training workshops conducted for the hired social workers at the Central and Governorate level.	Value	0.00	27.00	27.00
	Date	August 10, 2015	September 28, 2018	December 31, 2024
	Comment

2.5. Establishment of a functioning accountability and transparency mechanism in SHMFF as per DLI definition Value No Yes Yes
Date August 10, 2015 May 31, 2019 December 31, 2024
Comment
2.6. Average time required to resolve complaints in AMP Value 60.00 30.00 20.00
Date August 10, 2015 May 31, 2019 December 31, 2024
Comment
2.7. Percentage of resolved complaints received by SHMFFF and Governorate housing offices Value 0.00 90.00 90.00
Date August 10, 2015 May 31, 2019 December 31, 2024
Comment
2.8. Annual published reports on complaints and how issues were resolved, including resolution rates Value No Yes Yes
Date August 10, 2015 May 31, 2019 December 31, 2024
Comment
3.1.1. Female- headed households as percentage of beneficiaries Value 0.00 20.00 0.00
Date
Comment
3.2.1. Female-headed households as percentage of beneficiaries Value 0.00 0.00 0.00
Date
Comment

2.6. Average time required to resolve complaints in AMP	Value	60.00	30.00	20.00
	Date	August 10, 2015	May 31, 2019	December 31, 2024
	Comment

1.2 female-headed households as a percentage of benefeciaries	Value	0.00	19.80	24.00
	Date	April 1, 2015	April 29, 2018	June 30, 2020
	Comment

EG Inclusive Housing Finance Program Additional Financing

Development Objective

Key Details

Project Details

Sectors

Themes

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Project Map

Finances

Financing Plan (US$ Millions)

Total Project Financing (US$ Millions)

Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025

Detailed Financial Activity as of March 31, 2025

Ratings

IMPLEMENTATION RATINGS

COMPLETION RATINGS

INDEPENDENT EVALUATION RATINGS

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INTERMEDIATE RESULTS INDICATORS