IFC funds Alpha Capital, Vinte Viviendas to promote affordable housing

Tuesday, July 12, 2011

World Bank private sector arm IFC has made two investments to promote Mexican real estate development.

IFC will lend US$25mn to real estate fund Alpha Capital for the building of environmentally friendly and affordable housing.

IFC has also agreed to back up half of the 100mn-peso (US$8.4mn) local bond issued by developer Vinte Viviendas Integrales.

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The proceeds from the bond issue will go toward financing environmentally friendly and affordable housing. The bond issue was rated Aa3(mx) by Moody's and AA- by local agency HR Ratings.