North American Development Bank

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North American Development Bank

Also called the NADB. A binational organization between the United States and Mexico that provides financing for projects intended to improve the environment along the border between the two countries. Specifically, it finances projects certified by the Border Environment Cooperation Commission as being environmentally sustainable. The NADB was established in 1994 as a side agreement along with NAFTA. Its headquarters are in San Antonio, Texas.
References in periodicals archive ?
Based on this definition, the specific sectors that BECC and NADB currently address are the following:
NADB hopes to augment these advances by seeking additional project proposals from private and public sector entities interested in exploring energy projects that will benefit residents along the joint border.
More information regarding the NADB and its operations can be obtained at www.
NADB is planning to host three additional seminars this year: one on business management for Mexican water utilities and two on climate change.
We welcome this decision on the part of the two governments stated NADB Managing Director GerEnimo Gutierrez, adding This capital increase will position the bank to continue fulfilling its mission of improving environmental infrastructure and the quality of life on both sides of the border in a way that fosters public participation and transparency.
The Board of Directors of the North American Development Bank (NADB) and the Border Environment Cooperation Commission (BECC) yesterday approved a resolution recommending the merger of NADB and BECC into a single institution.
Within the framework of the Solar Power International 2011 conference in Dallas, Texas, the agreement was signed by Javier Garfio Pacheco, Secretary of Communications and Public Works for the State of Chihuahua, NADB Deputy Managing Director Alex Hinojosa, and BECC Deputy General Manager Jose Mario Sanchez.
NADB is an international financial institution capitalized and governed equally by the United States and Mexico for the purpose of financing infrastructure projects that improve environmental quality in the U.
The estimated project cost is US$242,600 and the grant provided by NADB through its Community Assistant Program (CAP) will cover up to 90% of these costs with SIMAS covering the remaining costs.
We have been working to build partnerships in the renewable energy sector, with both public entities and private companies and with the signing of this loan we are opening a new chapter in the evolution of the Bank that will help us move forward in the development of renewable energy projects," stated NADB Managing Director Geronimo Gutierrez.
NADB Managing Director GerEnimo Gutierrez signed the loan agreement with Miguel Angel Velasco MartE[degrees]nez and Francisco Deaquino Vargas, General Manager and Chief Financial Officer of Mercader, respectively.
This is the first such offering for NADB, which intends to issue future debt securities as needed to fund its growing loan operations.