The state credit organization (Nafin) and National Foreign Trade Bank (Bancomext) will merge this month in a move aimed to reduce the requirements for small- and medium-sized enterprises (SMEs) so that they can export their products more easily.
The decision also aims at avoiding duplicity of functions between both organisations, speeding up requirements and reducing spending. The official information will be released during October and the new organisation will be in the hands of Nafin director Mario Laborнn Gуmez.
Bancomext Director Josй Luis Romero Hicks will not have a role in the new organisation because he will participate in the upcoming election for the government of Guanajuato.
Nafin said that the merger would not cause any problems to businessmen asking for credits. Credits will be paid within the schedule as established in the initial loan contracts signed by both organizations.
