CAF to Fund Mexico’s Regulatory Improvement Efforts

The Board of Directors of CAF—development bank of Latin America—has approved a USD 300-million loan for the Mexican government’s National Regulatory Improvement Strategy, which sets out a series of actions aimed at reducing barriers, red tape, and the cost of regulations, as well as streamlining procedures for individuals and businesses. It also seeks to promote the use of tools to make public management more transparent and efficient.

The Program to Support the Implementation of the National Regulatory Improvement Strategy aims to empower the National Regulatory Improvement Commission (CONAMER), the federal government agency responsible for promoting regulatory improvement policies, as well as fostering amicable collaboration between the various areas and levels of government, and guide state and municipal governments in the implementation of the General Law on Regulatory Improvement. The result of this effort will positively impact the nation’s business environment and facilitate the development of micro, small and medium-sized enterprises.

“Regulatory improvement initiatives to promote international best practices, guiding governments in the implementation of strategic reform processes and supporting them in strengthening their regulatory systems and institutions are some of the actions CAF takes to promote more agile, efficient and transparent states, building on new technologies and data intelligence, which are revolutionizing public management and its relationship with citizens,” CAF executive president Luis Carranza said.

During the 167th meeting of the Board of Directors in Panama City, the institution reaffirmed its commitment to the productivity and regulatory quality agenda in its member countries, which is essential to lay the groundwork for good economic performance, as well as promote business activity and advance the overall rules to encourage greater innovation, investment, economic growth and social welfare.