March 28, 2022 |
Mexico's finance ministry said it is forming a MXN10 billion ($499 million) credit program with local banking association ABM and securities commission CNBV to increase lending to small and medium-sized enterprises (SMEs).
"We are willing to work more closely with all banks," Finance Minister Rogelio Ramírez de la O said during an ABM conference in Acapulco on Thursday.
SMEs represent 15% of economic added value in Mexico, but only 14.6% have access to financing, and many small businesses were "
Finance Minister Ramírez de la O says the government is willing to work closely with banks