Monterrey, Mexico. July 21, 2016 – IFC,
a member of the World Bank group, lend €106 million (approximately $117
million) CEMEX, S.A.B. de C.V., a global building materials company, in
order to support their green investment programs in emerging markets.
After a thorough assessment of CEMEX’s environmental, governance and social
practices, IFC will grant CEMEX funding for projects designed to enhance
environmental performance. Approximately 60% of the funds will be allocated
for projects related to the reduction of CEMEX’s greenhouse gas emissions,
while the remainder will be allocated to cover improvements to CEMEX’s
overall air emission controls.
“IFC’s support underscores and validates CEMEX’s sustainability efforts
and vision,” said Fernando A. Gonzalez, CEO of CEMEX. “We are very proud
and encouraged by this relationship, and we continue to seek opportunities
for further collaboration.”
“IFC’s financing to CEMEX sustainable programs is part of our commitment
to invest in critical climate-smart solutions across emerging markets,”
said Liz Bronder, IFC Director for Latin America and the Caribbean. “We
are encouraged by CEMEX’s innovative initiatives and look forward to the
company’s leadership expanding the climate change agenda among global
key players”.
IFC’s strategy in Mexico focuses on supporting private sector investment
to accelerate growth, improve competitiveness, foster social inclusion,
and reduce poverty. As of Fiscal Year 2015, IFC’s portfolio in Mexico
totaled $1.4 billion representing investments in 57 companies. Mexico ranks
seventh for IFC in terms of investment volume in a single country.
About IFC
IFC, a member of the World Bank Group, is the largest global development
institution focused on the private sector in emerging markets. Working
with more than 2,000 businesses worldwide, we use our capital, expertise,
and influence, to create opportunity where it’s needed most. In FY15,
our long-term investments in developing countries rose to nearly $18 billion,
helping the private sector play an essential role in the global effort
to end extreme poverty and boost shared prosperity. For more information,
visit www.ifc.org.
About CEMEX
CEMEX provides high quality products and reliable service to customers
and communities in more than 50 countries. Celebrating its 110th anniversary,
CEMEX has a rich history of improving the well-being of those it serves
through innovative building solutions, efficiency advancements, and efforts
to promote a sustainable future. For more information on CEMEX, please
visit: www.cemex.com
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