Bancomext supports foreign trade in the USMCA region
Among its sectoral programs, the Banco Nacional de Comercio Exterior (Bancomext) supports companies exporting to the Mexico-United States-Canada Trade Agreement (USMCA) region.
In particular, Bancomext’s purpose is to promote the participation of commercial banks in the financing of companies in strategic sectors or regions related to foreign trade and companies in the tourism sector and related activities.
Bancomext’s sectoral programs are as follows:
Foreign trade USMCA: promotes access to financing for Mexican export companies or those linked to the value chains of strategic sectors with export potential, within the framework of the entry into force of the USMCA.
Tourism Pymex: provides Mexican companies involved in tourism with financing to cover their working capital needs, the acquisition of fixed assets, and technological and environmental improvements.
Pymex Suppliers to the Automotive Sector: support for the development of the global export chain in the automotive sector, focused on improving and expanding the domestic supply of the industry and increasing the domestic content of exports.
Pymex Suppliers to the Electrical and Electronics Sector: supports the development of the global export chain in the electrical and electronics sector, focused on improving and expanding the industry’s domestic supply, linking domestic suppliers to the supply chain.
Bancomext
Finally, the Financiera Nacional de Desarrollo Agropecuario, Rural, Forestal y Pesquero (FND) and its Regional Coordinating Offices carried out promotional activities with both new and returning clients to finance capitalization projects in the rural sector.
Bancomext rescheduled debts owed by clients in its second floor portfolio, which provided greater liquidity to borrowers during and after the sanitary contingency, in order to meet their payment commitments. 155 applications were rescheduled, with lines of credit totaling 3.843 billion dollars.
In addition, according to the Ministry of Finance, Bancomext met 35 requests for additional working capital to complement the restructurings proposed, with a credit line value of US$286 million.
Through its Second Floor Guarantee Program, Bancomext seeks to encourage the placement of a greater number of loans to companies and, in turn, improve the terms and conditions under which credit is granted.
