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Nafin offers new financing tool to state suppliers

Bnamericas Published: Wednesday, February 05, 2003
Mexico's state-owned financing mechanism for small- and medium-sized companies, Nafin, has started operations of a new instrument for companies that supply public sector clients, newspaper El Economista reported. The new program offers financing of up to 50% of a particular supply order. Nafin has agreements in place with state power company CFE, state oil company Pemex, social security institute IMSS and the institute for security and social services for state employees (ISSSTE). These four entities account for 50% of the state's purchases, Nafin director general Mario Laborin Gomez said, adding that Pemex will start participating in the program from May 1, while the other three entities have started already. Apart from providing working capital, the program will offer training to suppliers on how to sell to the government.

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