Announcement of IFC Three Million US Dollars Bolivian Investment Aids, Capital Markets, Housing Finance on June 28, 1976

International Finance Corporation 1818 H Street N.W. • Washington, D.C. 20433, U.S.A. 202-393-6360 ., ,.,. t} / • ' ' IFC Press Release No. 76/13 Monday, June 28, 1976 IF'C $300,000 Bolivian Investment Aids, Capital Markets, Housing Finance The International Finance Corporation (IFC), a member of the World Bank Group, has signed an equity investment commitment of approximately $300,000 in Banco Hipotecario Nacional, a mortgage and commercial bank in Bolivia. IFC's participation represents 15 per cent of the equity. Bnnco Hipotecario Nacional is the only private financial insti- tution in Bolivia mobilizing long-term savings through bond issues. It is also engaged in commercial banking operations which serve mostly small • borrowers and depositors. Besides providing-additional resources for financing much needed housing, Banco Hipotecario Nacional's bond issues contribute to the development of the local securities market. This project is part of several legislative and institution-building measures undertaken in Bolivia to encourage savings mobilization by local financial institutions. The IFC investment is its third in institutions mobilizing long- term savings in capital markets and applying such savings primarily to mortgage lending_for housing. The purpo$e of the investment is to broaden the Bank's equity base and contribute actively to its development in the broader framework of a continuing technii__Jl. associ.ation with an overall program to strengthen and expand the Bolivian financial markets. (Any inquiries strictly relating to IFC's participation in this project should be directed to the IFC Business Relations Unit, 1818 H Street, N.W., Washington, D.C. 20433, Telephone (202) 477-5770) • •