Urbi Signs IFC Loan

The IFC has agreed to provide a loan package of up to $105m to Mexican homebuilder Urbi, it says. The 3-tranche financing includes a 7-year, $50m IFC segment with a 2-year grace period, a $20m segment from the IFC-Canada Climate Change Program, and a $35m IFC-syndicated segment done with international commercial banks. The IFC declined to provide further details of the transaction. Funds will go toward sustainable housing efforts and building energy-efficient homes targeting low-income people. Urbi CEO Cuauhtemoc Perez tells LatinFinance that in addition to the financial resources themselves in that the IFC’s recognition enables continued momentum in the company’s sustainable development work.