Hipotecaria Vértice S.A. de C.V. Sofom E.N.R. (Hipotecaria Vértice) is a Mexican company that finances real estate projects and residential mortgages, seeking to help increase its clients’ assets. The purpose of this IIC project is to support lending and fund the growth of the portfolio of loans to housing developers, especially those that are environmentally friendly. With this loan of 50 millon Mexican pesos, the IIC would be helping Hipotecaria Vértice diversify its sources of funding.
Environmental Classification and Issues:
This is a category III project according to the IIC’s environmental and labor review procedure because it could produce certain effects that may be avoided or mitigated by following generally recognized performance standards, guidelines, or design criteria. Each subproject will be subject to an environmental review and must comply with national environmental and labor laws, regulations, and standards as well as IIC environmental guidelines. To enable the Borrower to better understand the IIC’s requirements, Hipotecaria Vértice shall be required to attend the IIC financial intermediary environmental training workshop.