NADbank seeks to enter the aerospace industry

MEXICO - The North American Development Bank (NADBank), a financial institution that operates between Mexico and the United States, presented itself to members of the Mexican Federation of the Aerospace Industry (FEMIA) to urge companies in the aeronautical sector to seek financing through NADBank.

Currently, NADbank finances projects that have to do, mainly, with water distribution infrastructure; however, given the growth of the airline industry in North America and the arrival of nearshoring, the financial entity seeks to be a catapult for small and medium-sized companies in the aerospace sector.

“We have tried to grow our portfolio a little, but we have focused on other types of projects of increasingly greater impact, because we have been seeing more opportunities and precisely the interest in getting closer to FEMIA companies,” said Carlos Carranza, NADBank's Director of Environmental Infrastructure Financing, during a webinar organized by the federation itself.

The bank, which was established in 1994, aims to finance environmental infrastructure projects along the U.S.-Mexico border. For this reason, Carranza points out that Femia's member companies will not only grow if they finance themselves with NADBank, but will do so in a sustainable manner.

According to the executive, NADBank is capitalized and administered equally by the Mexican and U.S. governments, its headquarters are located in San Antonio, Texas.

“NADBank finances projects that seek to: Reduce or control environmental pollution, Improve the supply of drinking water, Protect flora and fauna, Promote sustainable development, Improve the quality of life,” said Carranza.

So far in June 2024, the binational financial institution has carried out eight new projects, specifically in the areas of mobility and energy storage.

“To date, US$122 million have been invested in different projects. We have benefited 598 people,” Carranza noted.

“NADBank has been an important tool to address challenges such as water management in border states,” the executive emphasized.

Femia began operations in 2007 and is an association that brings together the main companies in the aerospace industry in Mexico, especially in the areas of manufacturing, maintenance, engineering and design.

The Federation has more than 100 members in 14 states of the Mexican Republic, and its members are responsible for more than 80% of the country's space exports.