Monrovia, March 31, 2026: The National Housing Authority (NHA) has announced plans to introduce Liberia’s first structured mortgage financing program, in partnership with local and international financial institutions, to support Liberians with limited resources in building homes.
The initiative follows a tripartite agreement among the Liberia Bank for Development and Investment (LBDI), several commercial banks, and an international mortgage institution to provide financial assistance to Liberians with the capacity to build but who lack the necessary funding to complete their housing projects. The introduction of this new program could mark a turning point in Liberia’s housing sector, where access to long-term financing has remained extremely limited. For years, the absence of a robust mortgage system has forced most Liberians to rely on personal savings or informal means to build homes, often resulting in incomplete or substandard housing.
If effectively implemented, the initiative could expand homeownership beyond a small, formally employed population to include more civil servants and low-to middle-income earners. It also signals a shift toward structured housing finance, which could stimulate construction, create jobs, and contribute to broader economic growth.
However, the impact will largely depend on affordability, transparency, and accessibility. Without flexible requirements and strong oversight, the program risks benefiting only a narrow segment of the population, leaving the wider housing deficit unresolved. Florence K. Geegbae, Managing Director of the National Housing Authority and a seasoned senior policy expert, told the NewDawn Ministry of Information Correspondent Tuesday that discussions with LBDI and its partners are finalized and the bank has agreed to collaborate with a German-based mortgage institution, Bloom Bank Liberia, Ecobank Liberia, and the National Housing Authority to roll out the program.
She said that negotiations began last year and were successfully concluded last week, with the official signing ceremony expected in the coming weeks.
In addition to the mortgage initiative, Madam Geegbae also announced the development of a National Housing Trust Fund framework to improve access to affordable housing, particularly for civil servants.
The Trust Fund will create a dedicated financing pool to support homeownership, allowing civil servants to access funds for housing during retirement. Contributions to the fund will be deducted from payroll deductions already allocated to social security. She also emphasized that transparency and accountability will be central to the program’s implementation, and that the program will be managed in partnership with NASSCORP, with oversight from the Ministry of Finance, with annual audits conducted by the General Auditing Commission (GAC), and with beneficiary records made public.
She further disclosed that a proposal has been submitted to allocate 0.5 percent of the national budget to support the fund, while discussions are also ongoing with NASSCORP to determine contribution structures based on employees’ salaries.
“The program is expected to be sustained through multiple funding sources, including government allocations, grants, donations, loan repayments, resale proceeds, and investment income to expand access to affordable homeownership,” she said.
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