The World Bank approved a US$58.4 million loan to help increase competitiveness and growth of micro and small businesses in low-income urban areas of Mexico, by supporting their efforts to integrate e-business into their operations.
The loan is London inter-bank offer rate or LIBOR-based, fixed-spread, single-currency, has a grace period of five years and matures in 15 years. Specifically, the loan will finance an awareness-raising programme for micro and small-scale entrepreneurs on the benefits of e-business, along with technical assistance and training to help some 15,000 small firms to develop and implement e-business development plans.
