Ten CAF Initiatives to Improve Well-being and Competitiveness of Mexicans
Mexico’s accession as a full member of CAF—development bank of Latin America—will have a positive effect on the well-being of the population and the competitiveness of the country, thanks to the initiatives that the multilateral organization is implementing and plans to roll out with various local and regional agencies.
These include 10 Technical Cooperation projects for which CAF will allocate a total of USD 2.9 million in Mexico.
At the federal level, there is the implementation of the National Regulatory Improvement Strategy, in which CAF collaborates with CONAMER, with a USD 497,400 investment. In addition, there is a project to support the health system in response to the pandemic with the federal government, and a cooperation program between Mexico and Brazil in social, health and environmental issues, in collaboration with the Mexican Agency for International Cooperation for Development (AMEXCID).
In the north of the country, there is the Energy Efficiency Program for Water and Drainage Services of Monterrey, Nuevo León, where CAF will invest just over USD 665,000 together with the city’s Water and Drainage Service.
In Jalisco, CAF works together with the Secretariat of Environment and Territorial Development (SEMADET) of that state in the productive reconversion of the sugarcane harvest, earmarking USD 43,000.
In Mexico’s central region, CAF’s efforts are focused on the proposal of an exclusive lane for public transport in Mexico City, working together with the Mobility Secretariat (SEMOVI) and on the creation of a connectivity and digitalization model for open public contracts, also in the capital city. For both projects, CAF will allocate around USD 460,000.
The institution promotes a comprehensive development plan for the Isthmus of Tehuantepec, a geographical region that spans across the states of Oaxaca, Veracruz, Tabasco and Chiapas. In conjunction with the authorities of the Interoceanic Corridor of the Isthmus of Tehuantepec (CIIT), CAF will invest some USD 164,500.
CAF and the Secretariat for Economic Development and Competitiveness of Tabasco (SEDEC) are also working on a comprehensive project for the development of the state, with a USD 400,000 investment, making it one of the largest recipients.
Lastly, CAF works in Mexico’s Southeast with the Ministry of Economy on the trade integration of this region with the Northern Triangle of Central America (Guatemala, El Salvador and Honduras), in an attempt to promote development on both sides of the border to improve social, labor and economic conditions, expecting a reduction in the migration rate and increased productivity in the region.
Mexico is a key country for CAF. Last year, the country accounted for 3.5% of the institution’s loan portfolio, while credit lines in favor of the National Bank of Foreign Trade ( Bancomext) and Nacional Financiera (NAFIN) were renewed for the financing of strategic projects in favor of Mexican SMEs.
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