News

The North American Development Bank (NADBank) and Grupo KELQ, S.A.P.I. de C.V. SOFOM E.N.R., a subsidiary of Grupo DINERCAP, S.A.P.I. de C.V., signed a loan agreement for $80 million pesos to support the financing of sustainable green projects within the northern border region of Mexico. Specifically, the loan will support an urban re-densification project in downtown Monterrey, Nuevo Leon.

The Board of Directors of the North American Development Bank (NADBank) held its second semi-annual meetings of 2024 on November 13th and 14th. During the meeting the Board highlighted the two projects recently approved to receive US$11.7 million in financing, which demonstrate the importance of binational collaboration and funding between the U.S. and Mexico, as well as authorized the Bank to serve as custodian of the toll revenue to be collected by the new Mesa de Otay II/Otay Mesa East International Border Crossing and Port of Entry. In addition, the Board discussed a comprehensive NADBank initiative to invest in infrastructure needed for water conservation and diversification to benefit the agriculture sector and border municipalities. To support this initiative, the Board intends to direct an important portion of the Bank’s 2024 operating income to reactivate NADBank’s Water Conservation Investment Fund, with additional significant investments targeted over the next five to seven years. The Board also took steps to complete the appointment of a new Deputy Managing Director of the institution. 

The North American Development Bank (NADBank) participated in the financing of a MXN$339-million joint issuance of asset-backed securities (ABS) under a sustainability framework—the first joint issuance of a sustainable bond in the Mexican stock market. The securities were issued by four non-bank financial institutions that offer loans to micro, small and medium-sized companies, mainly in in agroindustry sector

Pathward and NADBank Finance Energy Storage Facility to Support ERCOT Battery Growth.

RIO HONDO, TEXAS – Oct. 8, 2024 - Pathward, N.A. has served as agent for $146.5 million in construction loans to support the sponsor’s acquisition and construction of six battery energy storage system (BESS) projects in Cameron County, Texas. As a participant to the construction facility, Texas-based North American Development Bank (NADBank) provided funding for the projects in the amount of $73.25 million.

The North American Development Bank (NADBank) held its annual flagship event, NADBANK SUMMIT 2024, with the theme “Innovation for Sustainability in the U.S.-Mexico Border Region,” on August 29th and 30th, in San Antonio, Texas. The discussions promoted synergies and reflections on the importance of innovation in public policy, initiatives and partnerships to achieve environmental sustainability along with sustainable economic development in the region. In addition, it featured the actions, projects and programs undertaken by various cities and companies to address the challenges of water stress, conserve water in food value chains, and implement innovative solutions for mobility and circular economies, as well as financing strategies and access to resources for infrastructure development in the region were presented.

The Patagonia, Arizona Wastewater Treatment Plant Improvements Project, funded by a $500,000 grant from NADBank's Community Assistance Program, has won two prestigious awards. It was named "Project of the Year" by the APWA Arizona Chapter and received the Common Grounds Award from the Metropolitan Pima Alliance. These accolades highlight the project's impact on environmental sustainability and community collaboration.

• The new infrastructure will reduce contamination of surface and groundwater resources.
• The project received a grant from the U.S. Environmental Protection Agency, administered by the North American Development Bank (NADBank).

• The event provides a platform to foster binational dialogue on sustainable and innovative solutions and options for addressing current water issues, the use of clean energy, mobility, circular economies, decarbonization and financial innovation in sustainable projects.
• Insights from renowned specialists, as well as leaders in the public and private sectors, will underscore the importance of innovation and sustainability in the environmental agenda of the U.S.-Mexico border in light of climate change, as well as highlight investment opportunities in the region and financing options offered by participating financial institutions.

Moody's Ratings (Moody's) has  affirmed the Aa1 long-term issuer and senior unsecured ratings of the North American DevelopmentBank (NADBank) and maintained the stable outlook. The short-term issuer rating of the NADBank was affirmed at Prime-1 (P-1).