Ruba, S.A. of C.V. (Ruba), a leading housing developer in Mexico, dedicated to the acquisition, development and commercialization of housing projects, received a loan in local currency equivalent to 75 million dollars through IDB Invest. The objective is to finance the development of low-income and middle-income housing in the country.

The operation consists of a comprehensive financing solution involving an advance payment line for accounts payable to suppliers (reverse factoring) for Ruba’s suppliers, mostly micro, small and medium-sized construction companies (MSMEs), for 25 million dollars, in local currency, and a seven-year revolving line of credit for 50 million dollars that includes a committed tranche of 25 million and an uncommitted tranche of 25 million.

IDB Invest will support Ruba in the implementation of improvements in its environmental and social plan to strengthen its sustainability strategy. Ruba will strengthen its supply chain and increase access to short-term financing for MSME suppliers under more favorable conditions.