Mexico City, Mexico, June 10th, 2019.
The International Finance Corporation (IFC), a member of the World Bank Group, and BEEL Infrastructure Partners, an asset management firm specializing in the infrastructure sector in Mexico and Latin America, announced the signing of the Cooperation Agreement for Infrastructure Financing, where they commit to identify, structure and jointly finance infrastructure projects in Mexico.
The objective of the Cooperation Agreement for Infrastructure Financing is to mobilize long-term resources towards infrastructure projects that offer an attractive combination of risk and profitability for institutional investors. The agreement reflects the interest and conviction of both parties to develop and finance projects that meet high international standards in environmental and social responsibilities and corporate governance. In addition, as part of the agreement, BEEL and IFC will work together on financing strategies that allow the issuance of green bonds and sustainable bonds for infrastructure projects in the stock markets.
BEEL Infrastructure Partners has created the first platform in Mexico to grant loans to the infrastructure sector. It has a proven team and extensive experience in both debt and capital transactions, with a combined experience in operations that exceeds US$20,000 million.
During the signing of the agreement, held at the Institutional Stock Exchange (BIVA), Gerónimo Gutiérrez Fernández, Managing Partner of BEEL Infrastructure Partners, said: "This strategic alliance with IFC represents a unique synergy to promote the development of infrastructure in our country. BEEL brings to the table a platform that allows institutional investors to finance infrastructure projects with a very limited risk and attractive long-term returns. We are extremely pleased with the formation of this alliance with an institution with the prestige and experience of IFC."
Ary Naïm, Country Manager of IFC Mexico, pointed out: " One of IFC's global strategic objectives is to increase the availability of financing for infrastructure, mobilizing long-term resources allocated in pensions and insurance. IFC is proud to open a path with BEEL Infrastructure Partners to promote new investment formulas and financial instruments that allow closing the infrastructure gap that Mexico requires for its growth, which currently amounts to around 5% of its Gross Domestic Product (GDP), and thus encourage the growth of the country."
María Ariza, director of BIVA, declared: “The agreement signed today by IFC and BEEL, will allow that the resources of a regional development focused institutional investor can be used to fund infrastructure projects in Mexico, through a specialized and experienced equity manager.” Also, she pointed out: “at BIVA we want to be the channel that enables this collaboration to happen. We will continue to work and innovate so that the stock market continues to provide important support to investment in Mexico.”
The Cooperation Agreement for Infrastructure Financing seeks to contribute to Mexico´s growth to become an economic power through the promotion of sustainable infrastructure projects that improve the development and competitiveness of the country.
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. In fiscal year 2018, we delivered more than $23 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity.
About BEEL Infrastructure Partners
BEEL Infrastructure Partners is an asset management firm specialized in the infrastructure sector in Mexico and Latin America. Thanks to its local presence and niche strategy, BEEL is able to offer private investment opportunities adapted to the needs of institutional investors in Latin America, without renouncing international investment standards. The BEEL team has been involved in the financial market of Mexican and Latin American infrastructure for more than 20 years, both in debt and capital transactions. Its partners have over 60 years of joint experience in leading financial institutions, such as the Development Bank of North America, Santander, CitiBanamex, Morgan Stanley and the Inter-American Investment Corporation (BID Group). BEEL signed the Principles of Responsible Investment of the United Nations (UN-PRI) and is committed to following the Performance Standards on Environmental and Social Sustainability of IFC in all its operations. BEEL means “road” in Mayan.
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