IFC works with clients to increase access to housing finance in emerging markets and consequently, to increase affordable housing and green buildings. Our clients benefit from long-term lines of credit; partial guarantees of local currency credit issues to foster local currency mortgage lending; and warehouse lines to support securitization activities.
IFC has invested $22.5 million in Mexican homebuilder VINTE, which builds affordable and energy-efficient homes. Home buyers are supported through Mexico’s Green Mortgage Program that provides incentives for purchasing energy-efficient homes. The program recently won the International Star of Energy Efficiency Award from the Alliance to Save Energy, a business-led global NGO.
With guidance from IFC, Artha Capital - a Mexico based real estate developer - has developed its first Green Design Guide. Artha’s Green Design Guide is an excellent tool for developing environmentally sustainable projects. It incorporates green features such as choosing sustainable sites, using strategies to ‘reduce, reuse, and recycle’, exploring solar, wind and micro-turbine potential, and providing for a 10percent green area across all sites. IFC’s $25 million investment in the Artha Capital-managed fund will expand a wide range of Mexican residential and commercial developments that will help address the lack of affordable housing and increase home buying and promote social integration.
For more on IFC's work in Housing Finance, please see pages maintained by our Financial Markets unit.