devinitorg/iati-policy-markers huggingface dataset:
GENERAL HIPOTECARIA Summary Of Project Information (SPI)       Project Name    Mexico - General Hipotecaria                Region    Latin America and Caribbean      Sector   Project No004916   Projected Board DateNovember 28, 1996   Company NameGeneral Hipotecaria, S.A. de C.V. (GH)   Technical Partner and/or Major Shareholders    	The projects sponsors are Mr. Jose Manuel Rivero, a prominent Mexican banker, and his business partner, Mr. Luis Contreras, an experienced accountant and financial specialist, who together manage the Company.  The U.S. Federal National Mortgage Association (Fannie Mae) is being considered for the role of the Companys technical partner.    Project Cost Including proposed IFC investment    	US$8 million, including a proposed IFC equity investment of US$2 million    Location of project and Description of site    	The project is located in Mexico City and will provide residential mortgage-related financial services throughout Mexico.    Description of Company and Purpose of Project    	GH is a recently-formed Mexican private second-tier home mortgage bank, whose purpose is to develop the secondary market for home mortgages and mortgage-backed securities in Mexico.  The project will be the first local-currency mortgage securitization operation in Mexico.  IFCs institution-building role is important, given the need to strengthen the institutional framework for home mortgages in Mexico.  The project will include an assessment of the Mexican secondary mortgage market and IFC assistance, in collaboration with the IBRD, to federal and state authorities to strengthen the housing finance framework.     Environmental Category and Issues    	This is a category C project according to IFCs environmental review procedures.  No further environmental review is required.       Date SPI sent to PIC     October 28, 1996      For Additional Information contact:  Corporate Relations Unit -   telephone: (202) 473-7711   facsimile: (202) 676-0365
Fomento Agroindustrial Progresemos SFOM The project is to extend a Mexican Peso (MXN) line of credit of up to MXN 40 million to Fomento Agroindustrial Progresemos, S.A. de C.V., SOFOM, ENR (Progresemos or the company) to support the Companys loan portfolio growth. IFC will also provide Advisory Services of a form and nature to be agreed between IFC and the company. The clients that would benefit with this credit line are women entrepreneurs in the micro and small enterprise category located, initially, in the states of Oaxaca, Chiapas, Tabasco, Campeche, Morelos, Michoacan and Veracruz. The expected development impacts of the project will be:

- Progresemos loan portfolio growth and the number of active clients in the target sector;
- The number of local MFIs partnered with Progresemos;
- The number of local MFIs benefiting from Progresemos technology platform and operating procedures;
- The number of local MFIs where Progresemos participates in the decision making process.
Agrofinanzas The project consists of an IFC investment of approximately $10 million to Agrofinanzas S.A. de C.V., Sociedad Financiera de Objeto Limitado (Agrofinanzas or the company) to be on-lent to small and medium agribusiness enterprises (Agri-SMEs) in Mexico. Agri-SMEs include farms, agricultural product processing and extends to related services. The IFC investment will directly support the companys portfolio growth.  Agrofinanzas is a non-bank financial institution specialized in lending to Agri-SMEs. Agrofinanzas began operations in 2005. As of March 2007, the companys total assets and total equity amounted to $20.6 million and $5.8 million equivalent, respectively. At present, most of Agrofinanzas borrowings come from FIRA (Fideicomisos Instituidos en Relacion con la Agricultura), a group of trusts managed by the Central Bank that support the growth of the agribusiness and rural sectors in Mexico. The IFC financing will support the companys funding diversification effort. The project supports rural development and access to finance for Mexicos Agri-SMEs, which are traditionally underserved by the financial sector. The monitorable indicators of the development impact of the project will be:    - the number and amount of loans and clients reached;    - the companys portfolio sectorial and geographical diversification,    - the companys market share amongst specialized agribusiness financial intermediaries, and    - the companys ability to diversify its funding.
VMLA - Mexico IFC will be providing a financial package of up to US$25 million to fund VM Mexico (VMM or the Company).  VMM will be offering mobile phone services primarily to the youth segment, with a targeted offering that will expand mobile broadband usage with attractive data packages.   VMLA (the Sponsor) has Mobile Virtual Network Operator (MVNO) licenses in Chile, Colombia, Mexico and Peru. 1) Innovation/Demonstration Effect: MVNOs are relatively new in LAC. The business model provides tangible benefits to all participants (i.e., MVNOs, Mobile Network Operators ("MNO"), regulators, and most importantly, the consumer). The MVNO model allows for a deeper penetration of services (i.e., including mobile broadband, etc.) as poorly attended client niches (i.e. youth) obtain a well targeted service offering more aligned to its needs and expectations. 2) Broadband / Productivity enhancement: VMM offers a data centric service offering. Broadband directly contributes towards improving productivity. The contributions of broadband connectivity to economic growth, and as a kick-starter of other innovative business models (e-health, e-education, e-commerce, etc.), is widely accepted. 3) Infrastructure Sharing: This is a key theme in IFC''s TMT sector strategy. As such, MVNOs operate over existing telecoms infrastructure, thus maximizing efficiency, while increasing competition and reducing prices. The owner of the core infrastructure (i.e., MNOs) also benefits as it revenues increases by selling additional minutes and data wholesale. This is particularly relevant for an operator such as Movistar, whose network in Mexico is not fully utilized.  Also, MVNOs have no substantial infrastructure or facilities, so they are unlikely to create E&S risk. 4) Availability, affordability & inclusion of underserved markets: MVNOs contribute to expanding the reach of underserved population segments, lowering the cost and increasing competition in mobile telephony.  This is critical in Mexico, which has one of the least developed telecoms sectors in LAC as a result of a dominant player inhibiting competition and keeping prices very high by regional standards.  MVNOs are fully aligned with the regulator''s objective, particularly after the recently enacted telecoms law (June 2013) which has as main objective to reduce America Movil''s (Telcel) grip on this market.   5) Youth: VMM directly targets the youth segment. Youth in general have a lower purchasing power than other population segments, and thus, a targeted and relevant service offer contributes directly to attending this segment''s needs.
Navix de mexico S.A. de C.V. SOFOM E.N.R. The purpose of this project is to support SMEs deprived of access to finance in Mexico by supporting Navix de Mexico, S.A. de C.V. SOFOM, E.N.R. (Navix or the Company) a  specialty non-bank, non-regulated financial intermediary focused on lending to local SMEs in the oil, gas and energy sectors in the southern states of Mexico. IFC will provide a loan of up to US$10 million equivalent.   Navix is a Mexican multi-purpose financial institution established in 2007. Navix provides financing to small and medium-sized enterprises in the Country through structured debt facilities. Navixs two main business lines are project finance, which include structured loans to oil & gas and energy contractors and portfolio finance which include payroll financing, microfinance and loans to companies in other sectors of the economy. Mexico''s access to finance is very low with only around 12% of the firms in the country having a line of credit compared to a regional median of 46%.  This project will support small and medium local suppliers with financing facilities for working capital and growth needs operating in the oil & gas and energy sector. By increasing its source of funding, contractors can secure a larger share of contract bidding as well as remaining as service providers in an industry were contracts are typically awarded to multinationals.
Nazca III Project The proposed investment is an equity investment of up to $15M in Nazca Fund III, (Fund III), an Ontario-domiciled VC fund focused on investing in early-stage technology companies in Spanish Latin America (LAC), predominantly Mexico. 1.	Increased access to early and expansion stage equity for technology companies in Mexico. Access to VC in Mexico remains low compared to the size of its economy. Within this context, Nazca will provide access to capital across an investees lifecycle through its fund.
2.	Increased competitiveness of Mexico's VC market. Mexico's VC ecosystem remains under-developed and the success of the Fund will prove the viability of this sector and help catalyze new local Fund Managers. 
3.	Increased competitiveness of key markets through the support of market-disrupting digital business models: VC funds such as Nazca invest in companies that often introduce a disruptive digital business model in a market. These innovative businesses can put pressure on incumbents to compete on prices and service quality. They can also strengthen supply chains by reducing the role of brokers and intermediaries, which improves price transparency and efficiency.
WaveCatcher The Mexican Secretariat of Communications and Transportation (the SCT) has conducted an international public tender process for a project, which consists of the design, construction and operation of a nationwide independent broadband wholesale network to service MNOs, MVNOs and mobile services providers for a period of 20 years, extendable for another 20 years. The winning bidder of this tender is granted exclusive rights to exploit 2 x 45 MHz of unencumbered contiguous spectrum in the 700 MHz frequency band for the creation of the network.  (the Project).    IFC is participating in the Project as part of Altán SAPI de CV (Altán or the Company), which submitted its complete bid package to the SCT on October 20 th , 2016.  On November 17 th , 2016, Altán was awarded the project as a result of the international public tender process.  As a condition of the tender award, Altán has committed to making its network available to at least 92.2% of the population, including areas where services are currently not available, within the first seven years following the signing of the Public-Private-Partnership agreement. i.	Economic growth and poverty reduction: Broadband contributes towards improving sector productivity and has a transformative effect on economic and social development. The contribution of broadband connectivity to economic growth as an enable to other innovative business models (ex. e-health, e-commerce, e-education, etc.) is widely known. The World Bank Group's "Information and Communications for Development report" 2009 sites a 1.4% increase in economic growth for each 10% increase in broadband penetration. 
ii.	Develop a Strategic Project to Enhance the Competitive Environment: The project is the centerpiece of Government's initiatives to foster competition and innovation in the telecom sector as included in the latest constitutional reform. The Project directly contributes to enhancing the competitive landscape in the country by providing wholesale network which will be available on an open access basis to services providers under non-discriminatory conditions. 
iii.	Demonstration Effect: the Project, the first of its kind, is also expected to set a precedent in the industry in terms of sharing strategic backbone infrastructure. 
iv.	Additional Positive Externalities: The Project is expected to generate significant direct and indirect employment opportunities during construction and operation, as well as incremental tax income for the Government.
Mexico MBS CEF The project involves the establishment of a facility for IFC to provide up to MXN300 million of credit enhancement for the senior tranches of residential mortgage-backed securities (RMBS) to be issued in Mexico.  The project would help Mexican private-sector housing sofoles (specialized mortgage finance companies, requiring an aggregate of up to MXN11.7 billion per annum of new long-term financing in order to meet the current demand for new housing) tap domestic institutional investors (controlling at least MXN986 billion of funds but lacking highly-rated securities to purchase for the long term). The need for the sofoles to access alternative sources of long-term funding arises largely from the phased cessation of lending by the government housing development bank to sofoles. Commercial banks which may consider entering the market with RMBS would also benefit from the project.  IFCs credit exposure would be to special-purpose vehicles (to be incorporated in future) by which Mexican local-currency residential mortgage loans would be securitized. The securities would be backed by future cash flows from the loan repayments. The loans would be secured by first-ranking mortgages over the owner-occupied properties.
Hipotecaria Nacional, S.A. de C.V. Hipotecaria Nacional (HipNal or the company) is Mexicos largest housing sofol (specialized mortgage lending institution).  Based in Mexico City, HipNal started operations in 1994.  Its main activity consists of originating and servicing residential mortgages financed by Sociedad Hipotecaria Nacional (SHF), a federal mortgage lending institution and the primary source of funds for sofols, to low-income individuals.  As of December 31, 2003. HipNals total assets amounted to MXN 27 billion ($2.4 billion), while net worth amounted to MXN 1.6 billion ($150 million).  It is the leader in market share based on total assets among mortgage sofols, holding almost 30% of the market.  Its portfolio is divided as approximately two-thirds in mortgage loans and the balance in construction loans to residential real estate developers.  It has a network of 77 branches around the country and services approximately 82,000 mortgage loans with aggregate amount outstanding of MXN $17.5 billion ($1.6 billion).  

HipNal has grown at a rapid pace since its inception a decade ago, given the high demand for low-income housing in Mexico.  To enable it to continue to grow in step with the market and to diversify its funding source from the SHF, its strategy is to issue MBS, thus freeing up its balance sheet of assets so securitized.  The purpose of IFCs loan is to assist the company to put in place a viable structure to facilitate the planned MBS issue.  IFCs loan will be collateralized by a pool of mortgages that will satisfy IFC-stated criteria, and will be transferred to an independent Trust, in order to facilitate the planned securitization.
Su Casita WHL II Hipotecaria Su Casita, S.A. de C.V. (HSC or Su Casita) is a Sofol, or a special-purpose financial company, whose main function is to extend mortgage loans to low-income individuals and to provide construction financing to developers of low-income housing.  Su Casita was established in 1994.  It has 114 braches in Mexico.  The company is first in market share, controlling approximately 21% of the market served by housing Sofoles, based on total loan portfolio.  As of December 31, 2005, it had total assets of $2.4 billion equivalent and shareholders equity of $182 million equivalent.  Su Casita is rated A3.mx (national scale issuer rating), and Ba3 (global scale local currency issuer rating) by Moodys, and A- mx by Standard and Poors (S&P).  It has a servicer rating of SQ2 from Moodys - the rating ranges from SQ1(strong) to SQ5 (weak), and Excellent by S&P.  Su Casitas business growth has been robust and the company expects this growth to be maintained, which calls for increased funding over the next three years.  In anticipation of these needs, IFC is considering firming up a package of up to $240 million to be able to expedite future requests for funding from the company.  Within this package, a first loan of $70 million, a warehouse line of credit, will finance the origination of eligible mortgage loans, as defined by IFC, in the low- to middle-income segment of the Mexican housing market, and provide a steady pipeline of mortgage loans to support HSCs on-going securitization program.  This loan will also enable Su Casita to free up its balance sheet of assets so securitized. The first loan under the project is expected to have the following development impacts:  - Extending mortgage financing to a large section of previously underserved groups  By providing increased sources of financing to these and the middle-income segments of the domestic population, the project will help address Mexicos housing deficit and enable the purchase of homes by a large section of the low-income to middle-income population segments.  - Developing the local capital market  The project will assist in the development of the local capital market through Su Casitas ongoing securitization program.  The continuous issuance of MBS in the local capital market helps support the development of an asset class that fits well with the investment needs and objectives of institutional investors in Mexico.  - Enabling funding through non-governmental means   Su Casita will gain access to a much-needed alternative source of funds as it phases-off from SHF as its funding source.
Vuela Project The IFC investment is an IFC revolving credit line of $30 million for the financing of aircraft pre delivery payments and a $10 million loan to Controladora Vuela Compañia de Aviación, S.A de C.V. (Controladora) with Concesionaria Vuela Compañia de Aviación, S.A de C.V. as the guarantor (Vuela or the Company), a newly established low cost airline, branded as Volaris. The companys main line of business will be passenger air transportation mainly within Mexico. Vuela commenced operations on March 13, 2006. It will initially operate five routes with four aircraft throughout Mexico from its base at Aeropuerto Internacional de Toluca. By year five of operations, the Company plans to operate over 20 Airbus A319 aircraft and servicing over 30 routes. Vuela will provide substantially discounted fares in a market historically marked by limited competition and high fares. This will stimulate demand and make air transportation accessible for a larger share of the Mexican population, promote connectivity, and economic growth.
Cifunsa S.A. de C.V. SUMMARY OF PROJECT INFORMATION (SPI)     Country/Project Name	Mexico - Cifunsa    Region				Latin America    Sector				Non-sectoral    Project No.			4640    Projected Board Date	May 31, 1995    Company Name			Cifunsa S.A. de C.V.    Technical Partner and/or Major Shareholders    	Cifunsa is a wholly owned subsidiary of Grupo Industrial Saltillo S.A. de C.V. (GISSA).  GISSA''s shareholding is controlled 85% by its original founders, the Lopez family, while the remaining 15% is held by the general public.  GISSA''s shares are traded in the Mexican Stock Exchange.    Project Cost including proposed IFC investment    	US$45.9 million    Location of project and Description of site    	Saltillo, Coahuila.  The site is located in an industrial corridor on the northern side of the city.      Description of Company and Purpose of Project    	Cifunsa is the leading Mexican producer of automotive engine block and engine head castings.  IFC has been asked to partly finance the modernization, automation and expansion of the manufacturing operations of Cifunsa, as well as the improvement of its environmental facilities.    Environmental Categories and Issues    	This is a category "B" project according to IFC''s environmental review procedure.  Environmental issues associated with this project include air emissions, liquid effluents, solid wastes and land use.  Occupational health and safety issues include equipment guarding, fire prevention, emergency response, and employee exposure to noise, molten metal, dust and hazardous materials.     The Environmental Review Summary is expected to be available on or about May 15, 1995 from the Public Information Center.      Host country location(s) of environmental documents:  Chiapas 375 Pte., Apartado Postal 29-C, 25280 Saltillo, Coahuila, Mexico.     Date SPI sent to PIC		[To be input by Corporate Relations Unit}     For additional Information contact:  Corporate Relations Unit - telephone (202) 473-7711 - facsimile: (202) 676-0365.   IFCSPI(04/04/95)  Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Mifel Project The proposed project consists of an equity investment, in the form of common shares, in Grupo Financiero Mifel S.A. de C.V. (Mifel or the Group), a local-owned financial group composed of commercial banking, factoring, leasing and mutual fund management companies.  Banca Mifel, by far the largest entity of the Group, was established in Mexico City in 1993 and has traditionally targeted corporates, small and medium companies (SMEs), the agribusiness sector and medium-sized real estate developers.  Mifels overall market share by loans, assets and deposits is less than 1% in the Mexican banking system.

IFCs equity investment would be between MXN 240 and 300 million ($20 to $25 million equivalent), or up to an 18% equity stake.  This project is eligible for an investment from the Africa, Latin America and Caribbean (ALAC) fund. Address Mexicos SMEs and agribusiness companies financing deficit and foster competition in both sectors where Mifel has traditionally focused on.

Support the consolidation of the Mexican financial sector by enabling the Bank as an acquirer or a more attractive target.
CAMESA PCG II Consejo de Asistencia al Microemprendedor, S.A. de C.V., S.F.P. (CAMESA or the Company) is an existing IFC Client that provides micro loans to over 360,000 active borrowers. CAMESA provides financing at the Bottom of the Pyramid (BOP) for the C and D socio-economic segments of the population. Through the proposed project, IFC will provide a Partial Credit Guarantee (PCG) of up to 50% of the amount of two bonds to be issued by CAMESA, to support the Companys long-term issuance program and further strengthen its name in the local capital markets. In addition, since the bonds will be paying a variable interest rate to the bondholders, the proposed project also entails IFC providing interest rate swaps, from variable into fixed rate, to hedge the interest rate risk exposure. 1.	Access to finance for micro entrepreneurs: The Project will support the availability and growth of finance to micro entrepreneurs in Mexico, particularly in high density sub-urban areas and mainly for women entrepreneurs in the C and D segments of the socio-economic population.  2.	Development of the corporate debt capital markets: IFC''s PCGs support the development of the local corporate debt capital markets. In Mexico, the local capital markets still remain illiquid and difficult to access by corporate bond issuers except the largest and more established ones.