IFC grants Cemex EUR106m "green" loan

IFC grants Cemex EUR106m "green" loan
13 July 2016

The International Finance Corp (IFC) has granted Cemex a loan of EUR106m to support the company’s sustainable development investment in emerging markets.

After a thorough assessment of Cemex’s environmental, governance and social practices, the IFC will grant CEMEX funding for projects designed to enhance environmental performance that were completed in 2014 & 2015 as well as ongoing during 2016 which are part of the capital expenditure plan previously communicated by Cemex.

Around 60 per cent of the funds will be allocated to projects that reduce greenhouse gas emissions, while the remainder is earmarked for air emissions control.

 “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.”

The IFC is joining Cemex’s facilities agreement dated September 29, 2014, as amended and restated (the “Credit Agreement”) maturing in 2020. This transaction increases the currently outstanding commitments under the Credit Agreement by approximately EUR106m and diversifies Cemex’s sources of funding.

Published under Cement News