IMF, World Bank Free Funds for Mexico

The International Monetary Fund renewed Mexico’s USD48 million credit line to help protect the country from potential adverse effects of withdrawal by rich nations of financial support from their markets, Reuters quotes a joint statement from the Mexican Central Bank and Finance Ministry. Mexico requested for the credit’s extension in early March.

Meanwhile, the World Bank approved March 27 a USD350 million loan aimed at improving public transportation in Mexico. The loan will support an urban transportation development project to green Mexico’s transportation sector. It will be implemented by the National Public Works and Services Bank.

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.