Second Stage of Support for Micro-Smes in Loans

The Association of Banks of Mexico (ABM) announced that there will be a second phase of schemes for supporting Msmes, through various schemes that are being designed by development banks, state governments and other private agencies.

ABM’s president, Luis Niño de Rivera, explained that one of the schemes is the NAFIN boost, which is developed jointly with some state governments that are around 25 entities that will join efforts to support local Msmes productive chains. These entities could contribute about 6,000 million pesos to this scheme.

Another scheme that is being considered is to work with some local chambers, specifically with the Chamber of Transformation Industry (Caintra), which has a presence in different states and with this aim to offer these supports to more than 1,300 members, while the chambers could provide resources as collateral to boost credit.

The ABM confirms that the bank in Mexico is solid and solvent, has reported that as of May 15, 7.9 million customers have requested the benefit of postponing the payment of their credits as a measure of support to the crisis by the Covid-19. Bankers assure that, after the period of deferral of payments, it is certain that there will be a second stage of support for Msmes, so the bank must be prepared for the granting of new credits.

In Bandala, Díaz, García we will keep you informed of the next credit schemes announced by the Association of Banks of Mexico.