IDB Lends $45m to Mexico

The IDB has approved a $45m loan to the Mexican government of which the local counterpart will contribute $10.4m from sales tax revenues. The loan has an estimated disbursement period of 54 months and a Libor-based interest rate, the IDB says. The funds, says the bank, will be used to improve the quality of public expenditures through the implementation and consolidation of a new results-based budgeting system.