News

San Antonio, Texas – The North American Development Bank (NADBank) is joining a consortium of lenders in an existing US$200 million Nomura-led senior secured credit facility supporting a project company of Paz Oil Company Ltd (TASE: PZOL; ilA+ ), Arava Power Company Ltd and Menora Mivtachim, Ltd., for the design, construction and operation of a 200-MW_AC solar park project in Uvalde County, Texas, which is expected to generate electricity equivalent to the annual consumption of 13,735 houses.

A water distribution system for the Hillcrest subdivision in El Paso County, Texas, kicked off construction during a groundbreaking ceremony that took place this morning. This project will provide first-time access to safe and reliable drinking water service for 107 homes in this unincorporated area located approximately 17 miles northeast of downtown El Paso.

This morning the City of Ojinaga kicked off the rehabilitation of its sanitary sewer system, which will help protect public health and the environment by reducing the risk of pipe failures that could cause sewage overflows onto local streets and contaminate surface and groundwater.

A second public meeting was held today to present information about two proposed wastewater infrastructure projects in Tijuana, Baja California. The projects consist of rehabilitating the Tijuana River Diversion System and the International Collector. The purpose of both projects is to reduce discharges of untreated wastewater into the Tijuana River and minimize transboundary flows into the United States, as well as prevent waterborne diseases caused by exposure to untreated wastewater.

The North American Development Bank (NADBank) acted as purchaser to the Laguna Madre Water District - Long Island Village Defined Area Unlimited Tax Bonds, Taxable Series 2023 in the amount of $20.8 million. The proceeds of the issuance will be used to replace deteriorated water distribution and wastewater collection systems for the entire community of Long Island Village, which will directly benefit close to 3,000 residents in this unincorporated area of Cameron County, Texas.

The North American Development Bank (NADBank) signed a US$2.4 million grant agreement with the water utility, Comisión Estatal de Servicios Públicos de Mexicali (CESPM) in Mexicali, Baja California, to finance its Phase II wastewater system improvement project. These improvements will help reduce the risk of pipeline breaks and sewage spills onto local streets and into the New River, which flows northward into the United States.

Fitch Ratings has affirmed NADBank's Long-Term Issuer Default Rating (LT IDR) at 'AA+' with a stable outlook.

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To reverse the historic backlog in water infrastructure and secure an adequate water supply for Baja California households, as well as to take aggressive action regarding wastewater issues, Baja California Governor Marina del Pilar Avila Olmeda executed the state’s first sustainable financing with the North American Development Bank (NADBank) for $3.0 billion Mexican pesos.

Mexico City, Mexico – The North American Development Bank (NADBank) and Nueve Uno Integradora, S.A. de C.V., signed a US$14.2-million loan agreement to finance construction of the OSME medical complex in San Luis Rio Colorado, Sonora. This project will increase access to general and urgent healthcare services for local residents, as well as for agricultural workers and their families in the southwestern region of the United States.

The North American Development Bank (NADBank), an international financial organization governed and capitalized in equal parts by the Governments of the United States and Mexico, is seeking proposals from law firms interested in providing purchaser’s counsel services for public finance transactions in Texas.