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
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
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.
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