Business Services Industry
World Bank to loan Mexico US$800 billion for infrastructure projects.
Internet Securities, May, 2002
MEXICO CITY, May 22, 2002
The World Bank will grant Mexico US$800 million in credits during the next fiscal year, beginning in July, for the development of infrastructure and energy products. World Bank representative in Mexico, Lea Braslavsky, said the resources would be used for highways, water and sanitation, and electricity projects in rural and marginalized urban areas.Braslavsky said that during the fiscal year ending in June 2003, Mexico will get credit lines totaling about US$2 billion, including funds for development of small businesses.Analysts at various brokerages agree that Mexico must use the system of pension fund administrators (Afores) to finance long-term infrastructure projects, including highways and water projects. In order to cover the...
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