IFC’s $50 million for Panama’s Banco General to increase mortgages for low-income households

\ \ IFC, a member of the World Bank Group, today signed an agreement with Banco General to support the growth of residential-mortgage lending to low-income households in Panama.\ \ Banco General is the leading mortgage lender in Panama with more than 55 years of experience and has been a partner of IFC since 2000.\ \ IFC will provide $50 million in long-term financing of seven years; and Banco General will be able to match the maturity needed to finance low-income mortgage lending.\ \ Original source: The Financial\ \ \ \ \ \