The Mexican Foreign Trade Bank (Bancomext) reported that between January and April it has provided financing of 14.13 billion pesos (US$1.37 billion) to support export activities. Of this amount, more than 12 billion pesos (US$1.16 billion) were used to provide loans, while the remaining amount was spent in guarantees and insurance.
Of the total credit, 91% was earmarked for direct exporters, most of which was to provide working capital, while the rest was loaned to indirect exporters, intended to strengthen the role of small- and medium-sized enterprises (SMEs) in the export sector.
Bancomext have financed 824 companies, of which 96% were SMEs just beginning to export goods.
Source: BNamericas.com
