KMRC Equity

The Project consists of an equity investment of up to US$2 million equivalent in the Kenya Mortgage Refinance Company (“KMRC” or “the Company”), of which up to US$1 million equivalent may potentially be supported by an IDA PSW Blended Finance Facility investment. KMRC is a private mortgage refinancing company that will provide long-term funding and liquidity to financial institutions to foster the development of the housing sector and improve affordability. With IDA PSW support, IFC become a shareholder and drive the impact by addressing the primary market failure of lack of access to viable financing, including in the underdeveloped counties of Garissa, Isiolo, Lamu, Mandera, Marsabit, Samburu, Tana River, Turkana, Wajir, West Pokot.