Bancomext and ABM announce US$ 578 million investment

Bancomext and ABM announce US$ 578 million investment

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MEXICO CITY – During the second semester of the year, at least US$ 578 million will be invested under the program of guarantees carried out by the development bank and private banking for financing companies, announced the National Bank of Foreign Trade (Bancomext) and the Association of Banks of Mexico (ABM).

The objective is to facilitate access to financing for micro, small, medium and large companies, as well as individuals with business activity; the program is based on two guidelines: sustainability in the medium and long term and the targeting of resources towards strategic sectors.

Figures of the program during the first semester of 2019, register that a credit spill was detonated by US$ 2 billion; on the other hand, the commercial bank is looking to triple this amount by the second semester through additional resources amounting to at least US$ 578 million

Source: La Jornada