IFC is providing $285 million and mobilizing an additional $350 million for Braskem Idesa S.A.P.I. to construct and operate Etileno XXI, a greenfield petrochemical plant that will be located in the Mexican state of Veracruz.
IFC's new EDGE (Excellence in Design for Greater Efficiencies) green-building certification program awarded its first two certificates to two Mexican companies, hotel chain Hoteles City Express and homebuilder Vinte Viviendas Integrales.
IFC provided $10 million in financing for Hospitaria, an energy-efficient 50-bed hospital in Mexico’s northern Monterrey city that will improve access to health services for low- and middle-income populations.
IFC’s office in Mexico City is the hub for business development and client relationship management in Mexico and Central America. Through an integrated approach providing investments and advisory services, IFC supports private sector projects that seek a long-term development impact. Since Mexico became a member of IFC in 1956, IFC has invested $9.3 billion in the country’s private sector, including $3.1 billion in mobilization.*
IFC’s strategy in Mexico focuses on priority areas that can increase economic growth rates and reduce poverty. We seek to promote access to finance for low-income individuals and microenterprises. IFC develops frameworks for effective private sector participation, supports energy-efficient projects, and develops infrastructure to strengthen competitiveness. IFC partners with municipalities and state governments to simplify regulations and provide incentives for businesses to join the formal economy. IFC also emphasizes environmental and social development and good corporate governance.
*As of October 1, 2013
Montes Urales 715, Piso 5
Colonia Lomas de Chapultepec
Delegacion Miguel Hidalgo
Mexico, D.F., 11000 - Mexico
Tel: (52-55) 3098-0130
Fax: (52-55) 3098-0146