The Government of Guinea has joined one of the largest affordable housing initiatives in the world, following a new agreement to partner with Sustainable Housing Solutions (SHS) and UNOPS.
The agreement, part of UNOPS Sustainable Infrastructure Impact Investments (S3I) initiative, has made provision for 200,000 affordable, sustainable homes to be built over the next decade.
Commenting on the tripartite agreement, Prime Minister of Guinea Dr. Ibrahima Kassory Fofana said: “On the instructions of the President of the Republic of Guinea, the government has placed under my authority the Presidential affordable housing programme among its highest priorities, considered as an essential tool in the fight against poverty and the promotion of social and economic inclusion.”
SHS will supply proprietary state-of-the-art Baupanel construction technology to the project, as well as oversee the development.
UNOPS will provide its comparative advantages in its mandated areas, such as: infrastructure, procurement and project management.
At least 100,000 of the new homes will be made available to Government of Guinea civil servants through a scheme which supports housing payments via payroll.
“We are delighted to welcome Guinea to the S3I initiative family. Innovative public-private solutions like this will have a profound impact on the welfare and lives of the people of Guinea,” commented Grete Faremo, Under-Secretary-General and UNOPS Executive Director.
Noel Lyons, CEO of SHS said: “Affordable housing remains inaccessible to most urban residents in cities of developing countries, especially low- and middle-income groups. SHS, in partnership with UNOPS, aim to help alleviate the global housing crisis for those most in need. We look forward to working with the Government of Guinea in delivering this ambitious development to its people.”
UNOPS and SHS will seek to mobilise resources from third-party investors to fund the initiative – which has a gross development value (based on the sales value of completed homes) of up to $8 billion. The project is expected to create thousands of local jobs in Guinea and boost economic growth across a number of local industries.
This announcement brings the number of affordable homes under the S3I initiative to approximately 1.3 million worldwide over the next decade, and follows a recent similar agreement with Ekiti State in Nigeria. Other countries where SHS is partnering with UNOPS in the scheme are Ghana, Kenya, India and Pakistan.
Wayne Cronin / E: firstname.lastname@example.org