The Government has set up a public fund to ensure the implementation of the national housing construction program, but still has to raise the necessary bank financing. A decree was signed by President José Eduardo dos Santos, on August 25, for the creation of the Fund for Housing Assets Development (FADEH) with the aim to “boost the sector” and “create a more efficient and sustainable management model” for the state in economic and financial terms.This fund as defined in the decree, will take over the public real estate assets, such as housing, business premises and plots of land for construction, under the supervision of the Ministry of Finance. “The FADEH must mobilize bank financing to obtain the necessary resources to finance housing projects with sovereign guarantee [a State guarantee of loans to raised],” reads the document. The amount necessary for its implementation of this fund was not revealed.
DW Angola
Development Workshop Angola