(Ecofin Agency) – The International Finance Corporation (IFC) is considering whether to invest $36.9 million to buy up to 40% of Kenya Mortgage Refinance Company (KMRC) bonds.
This entity specializing in the granting of mortgage financing has issued medium-term bonds for a maximum amount of 10.5 billion shillings, approximately $93 million, with the aim of raising resources which will make it possible to increase mortgage loans. in Kenya.
The IFC’s financing project remains subject to the approval of its board of directors. If approved, the financial institution, shareholder with 11.8% of KMRC shares, will become the anchor investor in the Kenyan medium-term bond program.
