ANNOUNCEMENT 23 Apr 2020

In April 2020, the Mexican government launched "Crédito a la Palabra" programme for the amount of MXN 25 billion (approx. USD 1 billion) supporting family SMEs in the context of the COVID-19 pandemic.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Secretary of Economy of Mexico. Secretaría de Economía de Mexico. Blog. "Ante la pandemia del coronavirus, fortalece Gobierno Federal apoyo a pequeños negocios" de 23 de abril de 2020. Available at: https://www.gob.mx/se/articulos/ante-la-pandemia-del-coronavirus-fortalece-gobierno-federal-apoyo-a-pequenos-negocios?idiom=es

Gobierno de México. Mexican Government. "Créditos a la Palabra". 30/04/2020. Available at: https://www.gob.mx/bienestar/acciones-y-programas/creditos-a-la-palabra-241368

Gobierno de México. Mexican Government. Press release. "COMUNICADO: Programa Crédito a la Palabra". Available at: https://www.gob.mx/cms/uploads/attachment/file/549834/Credito_a_la_palabra.pdf

Inception date: 04 May 2020 | Removal date: open ended

State loan

On 23 April 2020, the Secretary of Economy of Mexico announced the launch of the “Crédito a la Palabra” Programme, an MXN 25 billion (approx. USD 1 billion) credit programme oriented to support family SMEs in the context of the economic crisis generated by the COVID-19 pandemic.

The support will be granted in the form of MXN 25 000 credits (approx. USD 1 032), to be paid within 3 years with an annual interest rate of 6.5%. The beneficiaries will be businesses with more than 6 months of operation, and that do not belong to the agricultural sector.

The new credit line will be available from 4 May 2020 to all companies registered in the Federal Government's Welfare Census. According to the press release, the validation process for the credits started on 14 April 2020.

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the financial support granted here is discriminatory.

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