China Merchants Group provides $7 million grant for Social Housing Project

📋 Staff Comments

1. This project is also known as Project Nassib.
2. Under direct supervision of the State-owned Assets Supervision and Administration Commission of the State Council, CMG is a conglomerate with three business platforms of non-financial industries, financial services, investment and capital operation. CMG's non-financial industries cover ports, toll roads, shipping, logistics, real estate, zone development, offshore engineering and trade.
3. The Social Housing Project is being financed as part of the CMG’s corporate social responsibility (CSR) activities, so for the time being AidData assumes that CMG is responsible for project implementation.

📚 Sources & References

• 招商局港口集团股份有限公司 2018社会责任报告
• 胡建华拜会吉布提盖莱总统并开展一系列商务活动
• Win the Battle against Poverty and Promote Rural Revitalization
• China-Africa Chinese company to finance construction of 1000 social houses in Djibouti
• Chinese company to finance construction of 1000 social houses in Djibouti
• Djibouti veut accélérer la construction de logements sociaux
• Pose de pierre de la 1 ere Phase de 1000 Logements sociaux ( FADES ) à PK13
• Opinion：The Belt and Road Initiative boosts Africa’s leapfrog development
• Africa Housing Finance Yearbook 2018
• Le président Ismail Omar Guelleh procède au lancement officiel des activités de la fondation 'Droit au logement' Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.