December 14, 2018 |
IFC and IDB Invest have supplied $120m in financing for the US developer Cisneros Real Estate to build a new resort in the Dominican Republic.
IFC has contributed $79.5m directly and arranged $34m in financing from institutional investors through the Managed Co-Lending Portfolio Program. IDB Invest has put in $40m, IFC said in a press release.
IFC also said it will buy green bonds to provide its share of the financing to the $258m project in the town of Miches, about 80km west of Punta Cana.
Multilateral lenders arrange $120m in financing for the US developer Cisneros