IFC is working to create a market for affordable housing in eight low–income countries in west Africa. IFC recently purchased $9 million in 12–year local–currency bonds issued by Caisse Régionale de Refinancement Hypothécaire (CRRH). CRRH is a mortgage refinancing company that serves the West Africa Economic and Monetary Union (WAEMU) countries of Benin, Burkina Faso, Côte d’Ivoire, Guinea–Bissau, Mali, Niger, Senegal, and Togo. IFC’s investment aims to support CRRH’s goal to increase its housing portfolio to $500 million by 2021 and extend the local bond market yield curve beyond the current 10–years. This will allow lenders that work with CRRH to offer mortgages longer than the region’s 8–year average, which will help make homeownership more affordable for more people in west Africa. For many families, home ownership is their most valuable asset and an effective way to help improve their standard of living. The housing sector also supports jobs in construction and related goods and services.