Why is IFC promoting Mortgages in Ghana?
IFC’s mission is to promote sustainable private sector investment in developing countries, helping to reduce poverty and improve people’s lives. The adoption of a market-oriented mortgage system will help to improve the lives of the many Ghanaian families that still live in unsafe, substandard, or severely cramped housing conditions. Additionally, the creation of an active and organized residential mortgage market will stimulate the growth of several supporting industries including construction, building materials, architecture and design, real estate agencies. Many downstream industries, such as small and medium size enterprises (SMEs) in furniture making, will benefit from expansion of housing markets. This will also spur growth in skilled and semi-skilled employment.
