Shelter Afrique Development Bank (ShafDB) has secured a landmark agreement with the Arab Bank for Economic Development in Africa (BADEA) for a USD 120 million (Sh15.5 billion) loan. This funding is critical to support ShafDB's capital increase program, which aims to strengthen its financial base for financing affordable housing and urban development across Africa.

• Most important fact or figure from the article: The agreement is for USD 120 million (Sh15.5 billion).
• Key person or organization involved: ShafDB Managing Director Thierno Habib-Hann and BADEA President H.E. Abdullah KH ALMUSAIBEEH.
• Notable detail that adds context: This initiative provides an innovative financing mechanism for eligible member states to access on-lending at competitive terms, following ShafDB's transformation into a development bank since October 2023 in Algiers, Algeria, and the shareholder endorsement of a capital increase of over USD 200 million (Sh25.8 billion) in June 2024 in Kigali, Rwanda.