IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 09 Jul 2014 | Removal date: open ended
Still in force

State loan

On 9 July 2014, the National Bank of Foreign Trade (Bancomext) on a press release announced its decision to provide to the business entity of Isla Cabańa, S.A. de C.V. a loan which monetary value is 13.7 million USD.
Isla Cabańa, S.A. de C.V. will utilize this loan for building a hotel which will be functioning under the brand of Westin Cozumel (part of the franchizing portfolio of Starwoood Hotels & Resorts) in the Yucatan Island. The total costs entailed in the building of this hotel are estimated at 27.405 million of US dollars. Furthermore, the building of this hotel is expected to create 400 jobs during the construction phase and more than 200 direct jobs in the post-construction phase.
 
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.

AFFECTED COUNTRIES

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AFFECTED SECTORS AND PRODUCTS

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