The Inter-American Investment Corporation (IIC), the private sector arm of the IDB Group, has signed a revolving loan of 1.396 billion Mexican pesos with Fideicomiso Hipotecario (FHipo) to offer a new mortgage instrument in the national capital market. The project will benefit families seeking access to housing finance.
Specifically, FHipo will provide liquidity to mortgage originators through the purchase of mortgages. The company will provide these originators with access to new sources of funding and liquidity, which will allow them to expand the amount of loans to a larger number of Mexican families, particularly in segments of the population currently neglected by commercial banks.
In addition, FHipo will contribute to broadening the range of investment options with social impact available in the capital market and will channel resources from private institutional investors into the Mexican mortgage market.
The IIC's financing is aligned with FHipo's medium-term funding needs, offering longer maturities than those currently available in the market for these types of instruments and allowing the trust to have more stable financing over time, strengthening its structural financial framework and allowing it to develop a long-term growth strategy.
About the Inter-American Investment Corporation (IIC)
The Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank Group (IDB Group), is a multilateral development bank committed to supporting the private sector in Latin America and the Caribbean. The IIC finances sustainable enterprises and projects to achieve financial results that maximize social and environmental development for the region. With a current portfolio of $11 billion under management and 350 clients in 21 countries, the IIC works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients
About Fideicomiso Hipotecario (FHipo)
FHipo is the first Mexican mortgage trust specialized in acquiring, originating, co-participating and managing mortgage portfolios in Mexico. FHipo is administered by Concentradora Hipotecaria S.A.P.I. of C.V., whose management team has extensive experience in the financial and mortgage sector.
About the IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.
- José Luis Lobera