BajaNews - 7-22-2010 at 10:00 PM
http://www.bizjournals.com/sanantonio/stories/2010/07/19/dai...
July 22, 2010
The North American Development Bank has approved a $17.49 million loan to continue funding a comprehensive road rehabilitation project in Tijuana,
Mexico.
With this latest loan, NADBank has approved a total of $109.8 million worth of financing for the project.
The project involves the rehabilitation of 100 miles of roadways and a total area of 46.3 million square feet. It also involves the rehabilitation of
storm drains, the construction or reconstruction of curbs and sidewalks and the restoration of landscaping adjacent to the roadways. Private
contractor Cementos Mexicanos is performing the work.
“Tijuana’s creditworthiness and liquidity, supported by strong credit ratings, among other factors, gives us the confidence to provide 85 percent of
the financing for this project, which is radically changing the urban image of this important border city,” says NADBank Managing Director Jorge C.
Garcés.
San Antonio-based NADBank is a financial institutions that was established and capitalized in equal parts by the United States and Mexico for the
purpose of financing environmental infrastructure projects along the common border.
tjBill - 7-22-2010 at 10:09 PM
They had been rebuilding the roads of Tijuana for the last three years. So you either run into nice new avenue or a construction nightmare.