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$4.9 Billion For Mexican Infrastructure

12 September, 2012

Mexico's state owned development bank,Banobras,said last week that it plans to
provide 65 billion pesos ($4.9 billion) in credit and guarantees this year for
infrastructure projects to boost economic growth.

Alonso Garcia,
Banobras' CEO,told Reuters new service,"In this economic situation ... the
role of development banks has become a lot more important."

President Felipe Calderon has promised major
public and private investment to build highways,dams and port facilities

to drive the economy,create employment and make Mexico more

It was also announced recently that Banobras had agreed to
lend Mexican cement company,Cemex,up to 5 billion pesos ($375 million),
guaranteed with revenue from the world's third biggest cement maker's future

Banobras' portfolio of loans to state and municipal governments
last year was 137 billion pesos ($10.3 billion).