Cooperative Scheme Financing: Goboka Housing Projects, Kigali and Butare, Rwanda

Shelter Afrique Board approved a loan of US$ 1.8 million in November 2006, for GOBOKA Housing Co-operative to co-finance the installation of infrastructure services to some 210 plots and construction of a total of 80 Nos. 3-bedroomed houses in Kigali and Butare towns, Rwanda. The project in Kigali occupies land measuring about 51.4 hectares, and is located within the neighborhood of Kibagabaga, 6 kilometers from the city center. It lies to the north and opposite the recently completed modern Nyarutarama Estate. It is also 300 metres from the first project of 108 houses co-financed by Shelter Afrique.

The Butare project is located within the neighborhood of Ngoma and lies about 130 km to the South of Kigali. It occupies 28 hectares of land. Shelter Afrique loan which has a tenure of 3 years including a grace period of 18 months represents 50% of the total project cost estimated at US$ 3,614,119. The balance of the funds will be contributed by members of the Society through their monthly savings and mortgage loans from the Housing Bank of Rwanda.