Press Release: Congressman Vela Announces NADB's $200 Million COVID-19 Temporary Financing Program

Statement

Today, Congressman Vela announced that the Board of Directors of the North American Development Bank (NADB) has approved a temporary financing program in response to the effects of the novel coronavirus pandemic. The financing program aims to support projects that have both environmental benefits and a direct positive impact on the economy and well-being of the US-Mexico border region.

Loan proposals that may qualify include hospital projects with green initiatives, schools seeking to upgrade their water treatment systems, and projects that supply and install efficient technologies. The temporary program, which will provide up to $200 million and include $15 million in technical assistance, will accept loan proposals on a rolling basis.

"During these uncertain times, I am pleased with NADB's efforts to support local project proposals that will benefit our region and environment," said Congressman Filemon Vela. "As COVID-19 continues to impact our country, I remain committed to ensuring the well-being of my constituents, and the continued economic development of the 34thDistrict of Texas."

For more information or to submit a loan proposal, please contact Jesse Hereford with NADB by phone at (210) 215-3416, or email at JHereford@nadb.org.

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