Two men walk on the solar paneled roof
Mérida, Mexico
Latin America and the Caribbean

About CIFI

La Corporación Interamericana para el Financiamiento de Infraestructura, S.A. (CIFI) is one of the leading non-bank financial institutions in Latin America and the Caribbean that specializes in structuring and financing private sector, middle market, infrastructure projects. Headquartered in Panama, CIFI utilizes their proximity to their clients and decades of operational knowledge in their region to bridge the gaps between local small and medium-sized enterprises (SMEs) and international investors. FinDev Canada is investing in CIFI to facilitate green growth lending opportunities, contributing to renewable energy projects, job growth and market development. CIFI provided financing to Banverde, a company providing solar panel energy to small and medium-sized businesses in Mexico.

FinDev Canada’s financial commitment: $15M

Learn more about CIFI

About Banverde

Banverde is the largest financing company for distributed solar generation in Mexico. They offer financial solutions to commercial and industrial customers at no upfront cost and with a monthly payment schedule so that they can have solar panels on their own roof.

Thanks to CIFI’s support, we have substantially increased solar generation in rooftops all over Mexico. We are present in several states in the country; all of this is thanks to CIFI’s support throughout the years.”

CIFI’s Impact

1,142,380
tonnes of CO2 avoided
50%
of portfolio focused on green energy projects
1,800,000 MW
of clean energy

Our investment in CIFI supports the following SDGs:

SDG 5. Gender Equality

Achieve gender equality and empower all women and girls

SDG 7. Affordable and Clean Energy

Ensure access to affordable, reliable, sustainable and modern energy

SDG 8. Decent Work and Economic Growth

Promote inclusive and sustainable economic growth, employment and decent work for all

SDG 15. Life on Land

Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss

Mérida, Mexico

Mexico boasts a population of nearly 127 million1 people and a GDP of 1.41 trillion2. Mexico is the second largest economy in Latin America & the Caribbean and a leading exporter. Mérida has evolved into an economic hub with a diverse and growing economy anchored in various sectors including manufacturing, commerce, and tourism.

Map of Mexico
Wood processing at Woodgenix, Banverde’s client
Meet the Photographer

Alicia Vera

Alicia Vera is a Mexican-American photographer based between Mexico City and Miami, FL. Through her work, she explores history and culture within communities, seeking to dismantle stereotypes while further understanding her and others’ experiences in the process. Her clients include: The New York Times, National Geographic and The Wall Street Journal.

It was really cool to see firsthand how Woodgenix and Steelex are moving towards more sustainable practices given their importance in their respective industries. They could serve as examples to other companies in the region thinking about moving in that direction.”