ADVOCACY WIN: Senate Approves Funds for North American Development Bank

Last week, the U.S. Senate Committee on Appropriations approved a $22.5 million capital increase and $255 million in callable capital to the Norrth American Development Bank (NADB). The approved funding came in at half the amount proposed by both U.S. and Mexican institutions, but Chamber officials remain hopeful that the final amount will match the original.

Since their establishment as part of NAFTA negotiations two decades ago, the NADB and Border Environmental Cooperation Commision (BECC) have provided more than $2.5 billion in loans and grants to support the implementation of 211 environmental infrastructure projects in the border region.