The International Finance Corporation (IFC), a member of the World Bank Group, announced an investment of up to US$250 million in Scotiabank Mexico to expand access to housing finance for women—a key segment for the country’s economic and social development.
The investment aims to address Mexico’s significant housing deficit and the gender gap in access to mortgages, while promoting growth and economic inclusion. Mexico faces a housing shortage of 9 million units, leaving millions of families—especially in rural and low-income communities—without adequate housing. Women are disproportionately affected: only 4.5% have a mortgage product compared to 7.2% of men, underscoring the need to break systemic barriers to financial inclusion.
“IFC’s US$250 million investment is a decisive endorsement of our sustainable finance strategy and will strengthen our ability to expand housing access for more women. As catalysts of the national economy, through initiatives aligned with the Mexico Plan, we reaffirm our commitment to driving solutions that reduce structural gaps, promote equal opportunities, and contribute to more inclusive growth for the country,” said José Jorge Rivero, Vice President of Corporate Banking for Mexico and Latin America at Scotiabank.
This transaction marks IFC’s first engagement with the Scotiabank Group in Mexico and highlights both institutions’ commitment to fostering economic development, job creation, gender equality, and financial inclusion in the country.
“Access to safe and affordable housing is fundamental to economic opportunity and social well-being,” said Sanaa Abouzaid, IFC Country Manager for Mexico. “By partnering with Scotiabank Mexico, IFC helps create jobs, close the gender gap in housing finance, and build an inclusive growth model that can be replicated across the market.”
Beyond providing housing, mortgage financing has the potential to drive job creation. Each financed home stimulates the economy: new houses are built or existing ones improved, creating direct jobs for bricklayers, architects, engineers, and material suppliers. It also energizes supply chains and related services. This multiplier effect can generate thousands of jobs in key sectors and strengthen local development.
Within the framework of the government strategy outlined in Plan México, access to safe and decent housing is one of the essential enablers for promoting social well-being and national economic development. With IFC’s investment, Scotiabank Mexico—one of the country’s leading mortgage lenders—will strengthen its current offering to provide credit conditions that address the structural gap women face when seeking to purchase a home.
IFC and Scotiabank Mexico expect this investment to act as a catalyst for the Plan México, encouraging other financial institutions to adopt similar models and expand access to housing finance for women.
