San Antonio, Texas – 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.
DINERCAP plans to use the loan proceeds to provide green loans to infrastructure development companies in the metropolitan area of Monterrey, N.L. The anticipated environmental benefits include supporting conditions for urban re-densification and development by improving access to public water and wastewater services and rehabilitating and modernizing roadway infrastructure to improve mobility, in addition to achieving a more efficient use of resources. These works are expected to benefit around 33,500 residents.
Through DINERCAP, NADBank is expanding its financing capacity to reach more sponsors of small green projects, while promoting the acquisition of sustainable assets, encouraging the application of environmental and social criteria, and helping achieve the sustainable development goals of Mexico.
The NADBank Green Loan Framework provides a structure to support meaningful environmental projects requiring small loans that, with the financial and technical support of NADBank, can be financed through local financial intermediaries. As local entities, these financial intermediaries are in a better position to consider opportunities for green investments, assess risks and provide financing to smaller projects and enterprises.
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NADBank is a financial institution established and capitalized in equal parts by the United States and Mexico for the purpose of financing environmental infrastructure projects along their common border. As a pioneer institution in its field, the Bank is working to develop environmentally and financially sustainable projects with broad community support in a framework of close cooperation and coordination between Mexico and the United States. For more information about NADBank, visit www.nadb.org.