NADBank, Monterrey water utility sign US$28 million loan for wastewater reuse project
After certification and financing approval by Border Environment Cooperation Commission and North American Development Bank Board of Directors for a project to expand wastewater reuse system in Monterrey, Nuevo Leon, NADB sign $28M loan commitment the same afternoon with Monterrey water utility, Servicios de Agua y Drenaje de Monterey. Part of $66M project to expand current system infrastructure to take advantage of wastewater for reuse in industrial and commercial processes...
SAN ANTONIO, TX, June 23, 2006 -- Following certification and financing approval by the Border Environment Cooperation Commission (BECC) and North American Development Bank (NADB) Board of Directors for a project to expand the wastewater reuse system in Monterrey, Nuevo Leon, NADB signed a US$28 million loan commitment the same afternoon with the Monterrey water utility, Servicios de Agua y Drenaje de Monterey (SADM).
The purpose of the US$66 million project is to expand current system infrastructure in order to take full advantage of the wastewater that can be reused in industrial and commercial processes. It is important to highlight that this project is one of the most innovative wastewater reuse projects in the country, resulting in significant water savings in an area prone to drought and water shortages.
The loan commitment was signed by NADB Managing Director Jorge C. Garcés and SADM General Manager Emilio Rangel during the public meeting of the BECC-NADB Board of Directors.
"This project has a special significance for the Bank since it is the first one located within the expanded 300-kilometer Mexican border region," stated Mr. Garcés.
In addition to the Monterrey loan, the Bank also authorized 11 other loans totaling US$109.2 million for projects in Baja California, Sonora and Tamaulipas. Consequently, the NADB's portfolio of approved loans has more than doubled to US$240.8 million.
The North American Development Bank (www.nadb.org), created under the auspices of NAFTA, is a financial institution established and capitalized in equal parts by the United States and Mexico for the purpose of financing environmental infrastructure projects along their common border. As a pioneer institution in its field, the Bank is working to develop integrated, sustainable and fiscally responsible projects with broad community support in a framework of close cooperation and coordination between Mexico and the United States.
-- "North American Development Bank authorizes 5 loans totaling US$62.6 million for communities in Tamaulipas, Mexico"
-- "NADBank authorizes 4 loans totaling over US$17 million for border communities in Sonora, Mexico"
-- "BECC-NADB Board of Directors approve new projects benefiting U.S.-Mexico border region"