To help meet surging demand for housing in Kenya, IFC partnered with Kenyan firm Belco Realty LLP to support the development of a mixed-use affordable living complex that will consist of 1,379 residential units and over 4,500 square meters of retail and commercial space in Kongowea, Mombasa county.

Under the agreement, IFC will help identify suitable international strategic partners to invest equity of up to $12 million (KES1.3 billion) in Belco and to provide the company with the nece...