PPIAF Helps Mexican State Quintana Roo Raise $196 Million for Infrastructure
As sub-national authorities in Latin America begin accessing local capital markets to help finance their infrastructure needs, PPIAF’s Sub-National Technical Assistance (SNTA) program has helped the Mexican State of Quintana Roo structure a series of pooled borrowing transactions, the first of their kind in Mexico, worth about $196 million.
With PPIAF's Sub-national Technical Assistance support, the State of Quintana Roo successfully mobilized long-term debt in 2009, despite the financial crisis, by providing a well-conceived investment opportunity that met the demanding standards of lenders. The construction work made possible by this financing is helping to offset job losses in the state, which resulted from the economic downturn in tourism and exports.
