Mexico City, September 10, 2019.
The International Finance Corporation (IFC), member of the World Bank Group, and Banco Sabadell, leading institution in digital banking in Mexico, have signed a US$100 million loan to boost the development of sustainable infrastructure in Mexico.
Banco Sabadell will administer the loan and channel these funds to clients seeking to develop hotel projects and green buildings that promote practices such as efficient energy use, rational water management, waste removal and reduction of harmful emissions to the environment.
"This collaboration is more than a simple transaction; it is a long-term relationship with a partner who shares our commitment for long-lasting actions in an environment not only economic and political but social and environmental." Said Francesc Noguera, Director General of Banco Sabadell Mexico.
“IFC has two strategic objectives in Mexico: promote competition in the financial sector and encourage the green finance sector, to support the Mexican economy that requires more and better credit. With this loan, we accompany Banco Sabadell in its growth in Mexico, and contribute to the development of high value-added products for its clients in key sectors for the reduction of greenhouse gas emissions”, said Ary Naïm, Country Manager of IFC Mexico.
Banco Sabadell´s current technology-based business model allows to remove bank branches, cash and reduce the use of paper, to confirm their commitment as an actor in favor of the environment. These practices, coupled with the bank's experience in financing projects with similar characteristics in Mexico, are the reason that IFC chose Sabadell as a key ally.
IFC believes that investment in green buildings and sustainable tourism infrastructure contributes substantially to the development of countries. This generates a catalytic effect that encourages growth in areas such as services, energy, and telecommunications. In the Climate Business Opportunities in Cities 2018 study, IFC estimates that in terms of green buildings, the Latin American and Caribbean region represents a potential investment of US4.1 trillion until 2030.
About IFC:
IFC - a member of the World Bank Group - is the leading international development institution dedicated to the private sector in emerging markets. Together with more than 2,000 companies worldwide, we use our capital, experience, and influence to create opportunities where they are most needed. In 2018, our long-term financing in developing countries amounted to more than $ 23 billion, harnessing the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit
www.ifc.org
About Banco Sabadell
Banco Sabadell has more than three years of operation in Mexico as a Multiple Banking Institution with a presence in 13 cities in the country. Banco Sabadell (
www.bancosabadell.mx
) had, until of July 31, 2019, a credit portfolio of corporate banking and companies amount of around 77,000 million pesos and 44,000 million pesos respectively.
In Mexico, Sabadell is the first bank created in a 100% mobile model for individuals and is the first bank institution to join the Fintech Association of Mexico, which allows it to enrich its digital strategy.
Banco Sabadell Group is the fourth Spanish banking group with total assets exceeding 225,000 million euros. It constitutes a leading franchise in the segment of companies and entrepreneurs with international activity in 20 countries and has more than 2,500 offices and around 26,000 employees.
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