The National Foreign Trade Bank (Bancomext) has reported that this year it will channel US$5.8 billion to finances businesses, especially small- and medium-sized enterprises (SMEs), said Hйctor Reyes Retana, director general of the institution.
The figure to be used for financing this year by Bancomext is US$377m more than in 2004, said the executive in a statement. "The funds for this year... will be used to support SMEs both at promotional and training level," read the statement.
The National Foreign Trade Bank (Bancomext) also said that in 2004 the funds for financing reached US$5.42bn "to stimulate the sale of Mexican products abroad, which contributed to the 15% increase in exports compared to 2003." It also added that 91% of the firms given financing were SMEs.
The institution said that last year it supported the participation of around 1,600 export firms in trade fairs, missions abroad and other international events.
