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Calderón stumps up US$160mn for infrastructure fund

Bnamericas Published: Wednesday, December 07, 2011
Mexico's President Felipe Calderón has announced plans to create a US$160mn infrastructure fund for Mesoamerica and the Caribbean. The investment, to be provided by the Mexican government, will be coordinated by the finance ministry ( SHCP) and will provide funds to any interested country in the region, according to a presidential release. Calderón announced creation of the fund, known as the Yucatán agreement, during a meeting of Central American and Caribbean presidents held in Mérida, Yucatán state. The fund will be used to offer loans, provide partial guarantees or serve as collateral for financing projects in conjunction with IDB or the Central American Bank for Economic Integration (Cabei). The cost of hiring technical assistance, engineers, finance experts and project managers can also be absorbed by the fund, Calderón said. The Mesoamerica region extends from central Mexico to Belize, Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica.

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