Fundacion Social

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IFC is considering providing Fundación Social (the “Fundacion”) a long term loan of up to $50 million part of which may be exchanged into equity in any of the Fundacion’s investee companies. Following the appraisal the management team at Fundacion and IFC will jointly agree on the specific terms for this investment. This investment will allow IFC to support the activities of an entity which has an impressive track record of investing in socially responsible projects and targeting lower income households as its core clientele. The Fundacion is regarded as a strong sponsor and has proven its ability to work with its investee companies through rough periods. Aligning with the Fundacion will provide IFC with a strong local partner which can facilitate further joint ventures going forward. This project will make IFC a proactive partner involved in steering the investment strategy of the Fundacion and move them further towards developing sustainable and financially sound private sector investments geared at providing services to the lower income segments of society.