Mexico Gets 2 IDB Loans

The IDB has approved 2 loans to the Mexican government worth a total of $600m. One loan, for $350m, will finance improvements in the physical infrastructure of 20,000 schools and the other, for $250m, will help expand water service to rural communities. Mexico’s finance ministry says both loans have terms of 25 years with a grace period of 4 years and a rate based on Libor. A ministry spokeswoman does not disclose the actual interest rate.