“The nine states are Guerrero, Hidalgo, Michoacán, Morelos, Nayarit, Oaxaca, Puebla, Tlaxcala, and Veracruz. The financing will also focus on women, more than 65% of CAME’s borrowers are small, women-owned and managed businesses. by women, “said the bank.
The entity reported that after Jane Fraser’s visit to Mexico, where she held talks with President López Obrador, this loan was obtained with the International Development Finance Corporation (DFC).
The World Bank estimates that in Mexico only a third of people over the age of 15 have a bank account and only a fifth of low-income people are banked.
Around four million small businesses that represent 47% of Mexico’s private sector employment, but the formal financial gap is 164,000 million dollars.
“This financing to CAME demonstrates Citi’s commitment to promoting financial inclusion in Mexico, so that more people can access the benefits of financial products and services that help promote the country’s development,” said Manuel Romo, CEO of Citibanamex , it’s a statement.
CAME has a 27-year track record in strengthening communities, facilitating access to financial services, financial education, and promoting savings. It has more than 387,000 clients and 239 branches in 31 entities of the country.
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