According to the Bank’s website, the proposed IFC investment is an equity co-investment package by IFC of up to €19.3 million (~ US$ 20.9 million) to invest along with IHS Kenya Green Housing Partnership LLP and IHS Kenya Green Housing SCSp (the “Fund”) in the development and acquisition of approximately 5,000 newly developed, resource efficient, green affordable housing properties in Kenya (the “Project”). The proposed IFC investment will consist of up to €10 million (~ US$ 10.9 million) from IFC’s own account and up to US$10 million equivalent in € (~€9.3 million) from IFC acting as the implementing entity of the UK-IFC Market Accelerator for Green Construction Program (MAGC). IFC will provide equity for the development of affordable housing projects with an initial focus on the Nairobi Metropolitan Area and selectively in other Kenyan Counties. The Fund will be managed by IHS Kenya Green Housing Fund GP Limited (“GP”), through its main investment management team based in Nairobi. IFC will utilize a “sidecar” investment structure by using a newly created special purpose vehicle that will have IFC as its only limited partner co-investing alongside with the Fund in selected investments.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||International Housing Solutions (IHS)||Parent Company||-|
International Housing Solutions (IHS)
Cathal Conaty, Robert Wesselo
+27 (0)11 300 8600
54 Peter Place Road | Peter Place Office Park | Block C | Bryanston, Gauteng | 2191
ACCESS TO INFORMATION
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ACCOUNTABILITY MECHANISM OF IFC/MIGA
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