IDB Lends to Mexico Labor Market

The IDB has approved a $150m loan to Mexico to support job creation. The loan was requested by Mexico in response to the impact of the international financial crisis and the swine flu health crisis on the country’s economy. The loan has a 25-year term with a 3-year grace period, and its interest rate will be based on Libor. Funds will be disbursed over 3 years.