ImpactAlpha, April 14 — Green projects and e-mortgages could help tackle Mexico’s severe affordable housing shortage, create jobs and accelerate economic recovery, according to International Finance Corp.
IFC is lending approximately $130 million to Fideicomiso Hipotecario, or FHipo, a real estate investment trust that allows Mexicans to invest in residential mortgage portfolios.
The loan will help FHipo provide financing for affordable housing to low- and middle-income Mexican families, says fHipo’s Daniel Braatz. The firm will issue a green bond and originate loans for sustainable housing.
Tijuana, Mexico-based Provive acquires abandoned homes, fixes them up and helps families secure financing to buy them (see, “Adobe Capital, IGNIA exit Mexican home rehab startup Provive”).