Mexican Public Works Bank Hits Loan Record EFE
go to original April 1, 2012

MEXICO CITY – Mexico’s Banobras development bank said it provided a record 57.19 billion pesos ($4.5 billion) in loans last year for different projects.

This loan volume was “the highest figure in the institution’s history,” Banobras said in a statement.

Infrastructure loans rose 34 percent, while loans for municipal public works projects surged 52 percent last year, compared to 2010, Banobras said.

“If we take into account the past five years” under President Felipe Calderon’s administration, total lending was more than 200 billion pesos (nearly $15.75 billion), Banobras said.

Delinquent loans accounted for 0.29 percent of the total loan portfolio, or 0.02 percent less than at the end of 2010.

Banobras, which is led by former Energy Secretary Georgina Kessel, is a public institution that provides financing for public and private infrastructure and public works projects.

The development bank’s mission is to help strengthen Mexico’s federal government, 32 state governments and nearly 2,450 municipal governments.

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