The first phase of the project to alleviate poverty conditions for 500 families in the Mexican state will finance 36 houses and improve local roads and street lighting.
The New York-based Imperative Fund invests in poverty alleviation initiatives in low-income communities by pooling funds and social enterprises to fill community gaps, including housing, internet, “poverty tax” alleviation, solar energy and clean water, health insurance, and waste management.
“In order to have a structural change, we will have to have a holistic approach,” says founder Camilo Galvis.
Imperative Fund launched its first project in the Yucatán Peninsula in 2016, targeting 2,000 people.
For the Tabasco project, it is aiming for 8.75% returns after five years. Imperative Fund’s own source of funding was not disclosed.