INQUIRER FILE PHOTO
MANILA, Philippines — The International Finance Corp. (IFC) is providing a second sustainability-linked loan of up to P12.87 billion ($225 million equivalent) to Ayala Land Inc. (ALI).
This fresh support from the private sector arm of the World Bank Group bolsters sustainable finance in the Philippine real estate sector.
READ: World Bank to finance $23B to support gov’t programs for 2025 to 2031
The loan will fund the development of Greenbelt 1 in Makati City and Ayala Malls Evo City in Cavite. These are two large-scale commercial projects with an estimated gross leasable area of 89,000 square meters.
READ: BIZ BUZZ: Say goodbye to Greenbelt 1
In addition, IFC will work with ALI to implement the Building Resilience Index (BRI) across 50 commercial and industrial properties. This makes ALI the first developer globally to embed BRI into its project development process.
/rwd
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