The International Finance Corp., the World Bank affiliate that acts as a source of loan and equity financing for private sector projects in the developing world, last week bought a 10% share in South African secondary mortgage and securitization company SA Home Loans.

The investment comes after the organization took a 15% stake in a similar secondary mortgage operation in South Korea, the Korea Mortgage Corp., or Komoco, in November last year (ASRI 11/15/1999 p.1) and heralds IFC plans to establish a dedicated department to advise on secondary mortgage and MBS activities in emerging markets, in particular helping the firms where it has made investments.

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