IFC Invests US$250M in Scotiabank Mexico to Expand Housing Finance for Women

Mexico currently faces a housing shortage of 9 million units, affecting millions of families nationwide, especially in rural and low-income communities.

The International Finance Corporation (IFC), part of the World Bank Group, has announced a major investment of up to US$250 million in Scotiabank Mexico to expand access to mortgage financing for women. The initiative aims to tackle Mexico’s sizeable housing deficit and address persistent gender gaps in home ownership—key barriers to inclusive economic development.

Closing Mexico’s 9 Million–Unit Housing Gap

Mexico currently faces a housing shortage of 9 million units, affecting millions of families nationwide, especially in rural and low-income communities. Limited access to credit compounds this challenge, leaving many without the financial tools needed to buy or improve homes.

Women are disproportionately affected:

• Only 4.5% of women in Mexico have a mortgage

• Compared to 7.2% of men

This disparity highlights systemic barriers to women’s financial inclusion, property ownership, and long-term economic security.

Empowering Women Through Housing Finance

IFC’s investment will support Scotiabank in expanding affordable mortgage options specifically designed to address structural disparities faced by women seeking to buy homes.

“IFC’s investment is a decisive endorsement of our sustainable finance strategy,” said José Jorge Rivero, Vice President of Corporate Banking for Mexico and Latin America at Scotiabank.He emphasized that reducing structural gaps and creating equal opportunities is essential for Mexico’s inclusive economic growth, aligning with the government’s Plan México strategy.

First IFC Partnership With Scotiabank Mexico

This marks IFC’s first engagement with Scotiabank Group in Mexico, underscoring the commitment of both institutions to:

• fostering economic development

• creating jobs

• promoting gender equality

• expanding financial inclusion

“Access to safe and affordable housing is fundamental to economic opportunity and social well-being,” said Sanaa Abouzaid, IFC Country Manager for Mexico.She noted that the partnership will help create jobs, close the gender gap in mortgage access, and foster an inclusive growth model replicable across the Mexican financial sector.

Housing Finance as an Economic Engine

The initiative will have impacts far beyond individual families. Mortgage financing stimulates broad economic activity:

• construction of new homes

• renovation of existing properties

• direct employment for architects, engineers, bricklayers, and construction workers

• indirect economic activity for material suppliers, transporters, and service providers

This multiplier effect strengthens local economies and generates thousands of jobs throughout supply chains.

Supporting Plan México’s Vision for Inclusive Growth

Under the national Plan México, access to safe and decent housing is recognized as a core enabler of social well-being and national development. Scotiabank Mexico—one of the country’s leading mortgage lenders—will use IFC’s investment to enhance its housing products and reduce barriers women face in entering the housing market.

Encouraging System-Wide Change

IFC and Scotiabank Mexico expect this investment to act as a catalyst across the financial sector, encouraging other institutions to develop gender-responsive mortgage products and adopt similar models. The long-term goal is to expand equitable access to housing finance for women nationwide and support a more inclusive, resilient Mexican economy.