FINEM Edu Loans

completed

_x000C_Financiera Educativa de Mexico SA de CV (Finem) is a specialized non-bank financial institution that focuses on financing the education sector in Mexico. IFC previously committed financing facilities to support the initiation of Finem’s business, which is aimed at providing peso denominated loans to privately-owned schools and higher education institutions, to help fund their expansion and modernization programs. In addition, Finem also provides advisory services or technical assistance in a wide range of managerial or technical disciplines, to help qualifying clients reinforce the quality of their management and become more viable and competitive firms. The Project presented herein is a $15 million equivalent loan facility aimed at supporting Finem’s new student loan business. Finem’s goal at this stage is to finance loans originated at the university level. This will enable Finem to gain expertise in the business without initially having to build full servicing capabilities, which could be developed at a later stage.