Nafin and Bancomext will expand loans to the industrial sector for Nearshoring

MEXICO - Nacional Financiera (Nafin) and Banco Nacional de Comercio Exterior (Bancomext) will expand loans for industrial warehouses granted to companies seeking to establish themselves in Mexico.

The financing will be up to US$1.7 million for working capital, investment projects, equipment, and capital goods imports, among others. The objective is to strengthen productive capacity and take advantage of the benefits offered by nearshoring.

"What history over the last five years allows us to see is that we lend US$574 million a year, but given the growth and the project plan we have for this moment it will not be less than US$861 million in loans and even then that would not be our limit," said Ignacio Plancarte, director of Financing for the Maquiladora and Export Industry at Bancomext.

Ignacio Plancarte indicated that companies that are winners in the bids for the Inter-Oceanic Corridor of the Isthmus of Tehuantepec project and are seeking some type of financing for construction or leasing may approach both agencies.

He also commented that although around 54% of the industrial parks are located in the northern part of the country, in the last year there has been greater interest from companies to establish themselves in the southwest of the Mexican Republic.

On the other hand, Roberto Revilla, director of Business Development and Technical Assistance of Nafin-Bancomext, added that there are several Asian companies that are looking to set up in Mexico, especially automotive companies.