The International Finance Corporation (IFC) provided a MXN$1.15 billion ($58 million) loan to Mexican homebuilder Vinte to acquire Javer, the country's largest provider of low and mid-income housing.

The total acquisition was split between $100 million in new equity, financed by global development banks, and $123 million in debt.

The loan is being used to help Vinte triple the production of its sustainable housing supply as it aims to bring Javer up to its sustainable standards.

Vinte is the leading EDGE certified homebuilder in the world with 14,100, more than 1,900 of which are EDGE Advanced. Its EDGE certified homes save 10,964 tonnes of carbon dioxide annually.

"Innovative way of financing an acquisition transaction that involves sustainability criteria. Additionally, loan has broader social impact characteristics," commented one Environmental Finance Awards judge.

"Social housing is essential and IFC's support of Vinte and its acquisition will help the growth," added another.