Mexico: The International Finance Corporation (IFC) has granted Cemex a loan of Euro106m to support the cement producer’s sustainable investment programs in emerging markets. The IFC will grant Cemex funding for projects designed to enhance environmental performance that were completed in 2014 and 2015 as well as on-going during 2016, which are part of the capital expenditure plan previously communicated by Cemex. Approximately 60% of the funds will be allocated for projects related to the reduction of Cemex’s greenhouse gas emissions, while the remainder of the funds will be allocated to cover improvements to Cemex’s overall air emission controls.
“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”.
The IFC is joining Cemex’s facilities agreement dated 29 September 2014, as amended and restated maturing in 2020. This transaction increases the currently outstanding commitments under this credit agreement by approximately Euro106m and diversifies Cemex’s sources of funding.
