Plans for Argentina's new Secondary Mortgage Market Co. are well underway. The International Financial Corp. recently announced that it will contribute up to $50 million for up to 20% equity and a commitment of $100 million in credit enhancements to help support up to $1 billion of mortgage-backed and corporate debt securities of the new company.

In addition, the IFC agreed to mobilize further financing from private banks that will help originate and warehouse mortgages for eventual sale to the SMMC.

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