IIC approves a loan in Mexican pesos to Hipotecaria Vertice S.A. de C.V. SOFOM E.N.R.


This transaction expands the IIC's environmental commitment

Washington, D.C. – On September 23, 2008, the Inter-American Investment Corporation (IIC) approved a loan of up to fifty million Mexican pesos to Hipotecaria Vértice S.A. de C.V. Sofom E.N.R., a financial intermediary whose mission is to support its clients’ growth by providing financing and advisory services for the construction and purchase of homes. Hipotecaria Vértice provides financing services to housing developers and mortgage loans to home buyers.

It finances a wide range of housing, from lower-income and social housing to higher-end housing. Hipotecaria Vértice has a "Green Mortgage" program that seeks to boost the installation of environmentally friendly features, such as solar panels and water- and energy-saving devices, in the homes.

The IIC will encourage increased "green" home construction in Mexico through an incentive system for companies that use these building methods, preferably those meeting the program eligibility criteria.

The Inter-American Investment Corporation is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. It provides financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. In 2007, the IIC reached US$1.2 billion in assets and approved 62 transactions channeling US$470 million to SMEs in the region. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. For more information on the IIC’s activities, please visit www.iic.int.

Contact: Rodrigo Navas / Carlos Roa

Telephone: (202) 623-3926/(202) 623-3955

Email: rodrigon@iadb.org