San Antonio-based North American Development Bank Approves New Infrastructure Projects; broadens the scope of the mission

The North American Development BankThe board on Friday approved up to $ 87.5 million in funding for infrastructure projects along both sides of the US-Mexico border.

It also agreed to broaden the range of sustainability-supporting projects it could finance in the future, by expanding its investments in tackling climate change and promoting an eco-friendly economy.

“We are delighted to take full advantage of NADB’s lending capacity to address other urgent infrastructure and environmental needs in the US-Mexico border region,” said Calixto Mateos-Hanel, Managing Director of NADB. “We also want to ensure that the NADB allocation will continue to prioritize projects that deliver the greatest environmental benefits to communities. “

On San Antonio Frost Bank Executives Begin to See Return to Growth After Pandemic Slows

The newly approved funding will go to four projects, including a portfolio of energy storage systems in San Diego and a private medical facility in San Luis Rio Colorado, Sonora, which will reduce water use by 43% and reduce water consumption. 18% energy thanks to new construction techniques. The four projects will benefit approximately 3.4 million border residents and represent a total investment of $ 151.7 million.

Based in San Antonio, NADB provides funding – including loans and some grants – to support the development of environmental infrastructure in the southern United States and northern Mexico.

NADB was established under the North American Free Trade Agreement in 1994 with the mission of serving communities on both sides of the border.

As of August 2021, the bank had financed 285 projects and invested $ 10.5 billion in sustainable infrastructure, such as water conservation, solar power and air quality. The highest level of funding – $ 77.3 million – was distributed in Texas.

Following the replacement of NAFTA by the United States-Mexico-Canada Trade Agreement, which was adopted in July 2020, the bank received a financial boost. In 2020, NADB received $ 225 million in paid-in capital from the United States.

As a result, the bank is able to consider new types of financing projects, such as energy storage, urban development and green manufacturing, as well as infrastructure that supports sustainable food chains, adaptation to climate change and climate resilience. While most of the projects funded by NABD involve water supply and / or sanitation infrastructure, water conservation, and solid waste management, the bank is excited to expand its reach and reach. .

On Frost Bank of San Antonio to grant home loans again after pulling out of the business two decades ago

“The new types of projects present a real opportunity for the NADB and will allow us to better position ourselves to be on the front line in the fight against climate change along the US-Mexico border,” said Salvador Lopez, head of the environment at NABD.

Elena Bruess writes for Express-News through Report for America, a national service program that places reporters in local newsrooms. [email protected]