News

• Funds to be used to purchase 17 vehicles for two border communities
• The disbursement is part of a US$9 million line of credit.

San Antonio, Texas: The North American Development Bank (NADB) made an initial disbursement of US$1.8 million to Mercader Financial, S.A., SOFOM, E.R. (“Mercader”) to support its financing program for the purchase of low-emission vehicles manufactured by DINA Camiones S.A. de C.V.

The disbursement was made under a line of credit for up to US$9 million contracted by NADB and Mercader in 2014 to implement a border-wide Public Transportation Improvement Program in Mexico. The purpose of the program is to improve the public transportation fleet by facilitating financing for low-emission buses and thus reduce greenhouse gas emissions in urban areas.

This first package of buses consists of 17 diesel units that comply with high environmental protection standards and are being purchased by private companies in the cities of Hermosillo, Sonora and Tijuana, Baja California, where they will be used to expand the existing fleet of passenger vehicles for urban transportation.

“We believe that this financing program, which offers longer terms than other available options, will help public transportation providers acquire new units that meet environmental requirements,” stated NADB Managing Director Geronimo Gutiérrez. “We are pleased to see the start-up of this program, the first of its kind, which will benefit not only the people who use public transportation but also the environment by reducing air pollution.”

This project, certified by the Border Environment Cooperation Commission (BECC) in June, 2014, will improve environmental and human health conditions by lowering emissions related to vehicle operation, reducing urban congestion, and offering a comfortable, safe, rapid, and accessible transportation option for public transportation users.

“For Mercader Financial, contributing to sustainable urban mobility is fundamental, supported by specific programs with a long-term vision, such as the one implemented by the North American Development Bank and the Border Environment Cooperation Commission for these types of projects. It offers a promising outlook for the future, and we are confident that these will be a success for society as a whole,” stated Miguel Angel Velasco Martínez, General Manager of Mercader Financial.

“At Mercader Financial we are completely committed to financial solutions for our clients, paving the way for technological change and the use of alternative energy, constantly innovating for the benefit of the general public will be one of our main priorities,” he added.