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IFC lends €106 million to CEMEX environmental programs


IFC, Mexico City:
Mauricio González Lara, IFC
+5255 3098 0248

mgonzalezlara@ifc.org

CEMEX, Monterrey:

Jorge Perez, CEMEX

+52(81) 8888-4334

mr@cemex.com


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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