IFC is providing $50 million in financing to leading Saudi Arabia-based retailer, Fawaz Abdulaziz Alhokair, to help it expand to Eastern Europe and Central Asia. IFC’s financing is compliant with Islamic Shariah law.
IFC is providing a 50 percent partial credit guarantee for a 100-million peso (about $8.4 million) bond issue by Mexico’s VINTE Viviendas Integrales, a company that specializes in affordable housing for low- and middle-income families.
IFC focuses on key industries that form the foundation of sustainable growth and that provide affordable goods and services to consumers, create jobs, contribute to government revenue, and stimulate the growth of local small and medium enterprises. These sectors include tourism, retail, and property, which support infrastructure development to help address the impact of climate change.