A nearly $20 million loan to Imperative Investments will finance affordable housing, boosting economic growth in less-developed regions of Mexico
MEXICO CITY, Mexico – U.S. Vice President Kamala Harris today highlighted a U.S. International Development Finance Corporation (DFC) loan to be made to support affordable housing and mortgages in Mexico as part of the U.S. government’s efforts to bring investment to Southern Mexico. DFC has committed nearly $20 million to Imperative Investments to finance construction and buyer financing for low-income housing, 40 percent of which will be built in southern Mexico, and related community services. The project will build more than 5,000 homes in low-income, underdeveloped areas of the country, and will also provide financial literacy training to support buyers in making down payments on the new homes – promoting long-term and inclusive economic development.
“DFC is proud to provide financing for Imperative Investments, a housing project which will create tangible and long-lasting development impact in the low-income regions of Mexico,” said Algene Sajery, Vice President of DFC’s Office of External Affairs and Head of Global Gender Equity Initiatives. “Through projects like this, the United States is working with the private sector to build hope in the region that a better life is possible at home.”
DFC’s investment seeks to help overcome the housing deficit in Mexico, which is driven by lack of affordability, by funding homes expected to be affordable to households at the country’s poverty line. Increasing affordable housing not only improves the well-being of families and communities living in poverty, but also boosts economic activity and spurs growth in other areas of the economy. DFC’s investment in Imperative advances its 2X Women’s Initiative through which the agency prioritizes projects that are owned by women, led by women, or provide a product or service that empowers women.
This investment will advance U.S. priorities in Central America including boosting economic development and improving the lives of women and youth. It joins other DFC tools that are helping businesses across the region pursue promising opportunities that improve lives, in support of U.S. development and foreign policy goals. DFC is committed to addressing the most critical development challenges impacting Latin America and the Caribbean. The agency is supporting private sector investment from Mexico and the Northern Triangle countries of El Salvador, Honduras, and Guatemala to Colombia, Brazil, and emerging economies across the region.
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U.S. International Development Finance Corporation (DFC) is America’s development bank. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.