Mexico's national foreign trade bank Bancomext issued US$2.1bn in loans to support export activities in the first five months of 2004, up 10% from the same period last year, the bank said in a statement. During the first five months of the year 84% of the bank's total loans were designated short term, a 19% increase from the same period 2003. Of the 662 enterprises that received loans over the period, 93% were small or medium sized, the report said.
Sectors receiving loans from Bancomext included food, machinery, capital goods, energy, electronics and services, according to the report. Bancomext is an instrument of the Mexican government used to promote imports and exports and is focused on SMEs. The bank provides training services, information, financial assistance, project coordination and financing.
Source: Business News Americas
