South Africa is in the midst of a critical, years-long power crisis. The country also needs nearly four million new units of low-income housing.
To speed development of new energy facilities and homes, International Finance Corp. supplied $300 million in debt to Standard Bank for on-lending to housing and energy developers. A portion of the capital will finance mortgages for low-income borrowers, at least half of whom must be women.
The debt package included $40 million from commercial investors.
