Yesterday the Ministry of Finances approved three new loans for Mexico for a total value of 1,700 billion dollars
The Ministry of Finances and Public Credit (SHCP) yesterday informed that the World Bank (BM) approved three new loans for Mexico for a total value of 1,700 billion dollars.
In a press release, the dependence explained that the first of 1,250 bd will support the System of Social Health Protection with the financing of the federal assistance of Popular Security, which contributes for the granting of medicines and pay of medical services. With this operation, the World Bank backs up the strategy of the Federal Government to extend the supply of health services for low-resources population, said the SHCP.
This financing has a 18-years depreciation period and will be in a single payment in january 2028. The applicable interest rate is changeable based on the LIBOR plus a variable margin.
The second operation with a total amount of 350 md will be contracted by the National Works and Public Services Bank (Banobras) in order to support the financing of massive transport projects that reduce the emission of green house effect gases in several cities of the country.
The dependence mentioned that these projects will allow the extension of clean urban transport in the country and strengthen the actions carried out by the present administration of President Felipe Calderon to fight against climatic change.
They stated this operation is based on two separated loans: i) one for 150 md of normal resources of World Bank contracted in a depreciation period of 13 years with a grace period of 3 years and a variable interest rate based on LIBOR, and ii) the other for 200 md of concessional resources coming from Climate Investment Funds with a depreciation period of 20 years with a grace period of 10 years and a interest rate of 0.75%.
The third loan of a total amount of 100 md will support on the National Council for Educational Development (CONAFE) for the execution of the Share Compensation Program, which will give training to educational promoters, development of new pedagogical materials, improvement in school infrastructure in and supply of technical assistance for the industrial strengthen of municipalities of the country.
The projects and shares of the Federal Government to improve equal opportunities, quality of education, and in general, the transformation of educational sector have been recognized by the World Bank and will be supported through this loan, considered the dependence.
They revealed that this credit has a depreciation period of 17 years, will be done in a single payment in june 2027. The applicable interest rate is changeable based on the LIBOR plus a variable margin.
Finally, the dependence stated that these loans form the strategy of the government to make use of financing sources with favorable conditions and they are comprised in an indebtedness rate approved by the Union Congress for 2010. (El Semanario, ESA)
The Ministry of Finances and Public Credit (SHCP) yesterday informed that the World Bank (BM) approved three new loans for Mexico for a total value of 1,700 billion dollars.
In a press release, the dependence explained that the first of 1,250 bd will support the System of Social Health Protection with the financing of the federal assistance of Popular Security, which contributes for the granting of medicines and pay of medical services. With this operation, the World Bank backs up the strategy of the Federal Government to extend the supply of health services for low-resources population, said the SHCP.
This financing has a 18-years depreciation period and will be in a single payment in january 2028. The applicable interest rate is changeable based on the LIBOR plus a variable margin.
The second operation with a total amount of 350 md will be contracted by the National Works and Public Services Bank (Banobras) in order to support the financing of massive transport projects that reduce the emission of green house effect gases in several cities of the country.
The dependence mentioned that these projects will allow the extension of clean urban transport in the country and strengthen the actions carried out by the present administration of President Felipe Calderon to fight against climatic change.
They stated this operation is based on two separated loans: i) one for 150 md of normal resources of World Bank contracted in a depreciation period of 13 years with a grace period of 3 years and a variable interest rate based on LIBOR, and ii) the other for 200 md of concessional resources coming from Climate Investment Funds with a depreciation period of 20 years with a grace period of 10 years and a interest rate of 0.75%.
The third loan of a total amount of 100 md will support on the National Council for Educational Development (CONAFE) for the execution of the Share Compensation Program, which will give training to educational promoters, development of new pedagogical materials, improvement in school infrastructure in and supply of technical assistance for the industrial strengthen of municipalities of the country.
The projects and shares of the Federal Government to improve equal opportunities, quality of education, and in general, the transformation of educational sector have been recognized by the World Bank and will be supported through this loan, considered the dependence.
They revealed that this credit has a depreciation period of 17 years, will be done in a single payment in june 2027. The applicable interest rate is changeable based on the LIBOR plus a variable margin.
Finally, the dependence stated that these loans form the strategy of the government to make use of financing sources with favorable conditions and they are comprised in an indebtedness rate approved by the Union Congress for 2010. (El Semanario, ESA)
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