The World Bank signed off on a $1 billion loan to Mexico designed to attract nearshoring-related investment while spurring lending to women-led businesses, El Economista reported.
The loan also seeks to boost the country’s climate change adaptation and resilience and allow the government to improve its sustainable finance framework, the newspaper reported on Sunday without saying how it obtained the information.
A wave of investment to bring supply chains closer to the US market requires Mexico to lift its environmental, social and governance standards to those of developed countries, the report said.
In particular, the World Bank financing will be channeled toward micro, small and medium-sized enterprises (MSMEs), prioritizing those run by women, El Economista wrote.
State-owned development banks Nafin and Fira will be responsible for on-lending, the report said.