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| Home » International Financial Institutions » North American Development Bank |
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North American Development Bank |
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North American Development Bank is a financial institution equally governed by United States of American and Mexico. The main purpose of the North American Development Bank is to provide financial assistance to the environmental projects certified by the Border Environment Cooperation Commission. The two institutions work hand-in hand with communities and project sponsors in both the countries. The North American Development Bank (NADB) along with Border Environment Cooperation Commission (BECC) provides financial infrastructure for a clean and healthy environment. They started their work under the November 1993 Agreement between the two Governments of United States and Mexico.
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The NADB was established in 1994 under the umbrella of North American Free Trade Agreement (NAFTA). Its headquarters is in San Antonio, Texas. It is a binational financial partner for USA and Mexico to finance for long term development and improve affordability that encourage a clean and healthy environment for the residents along the US-Mexico border.
In 2000 the Board of Directors of North American Development Bank showed interest to expand the Bank’s financial activities more effectively. As a result of this they initiated a broad set of reforms which required an amendment of the original charter. Following this the original NADB- BECC charter was amended, and a new charter following the US-Mexican Legislation was adopted in June 2004.
90% of NADB’s capital is directed to finance environmental projects in the border region and the rest 10% is invested throughout USA and Mexico under the guidance of NAFTA. The North American Development Bank provides loans to public and private borrowers at a low rate of interest to implement infrastructure projects relating to environment. The bank funds the implementation of drinking water and wastewater infrastructure along the border area. The North American Development Bank also provides technical support for effective planning and design of infrastructure. The North American Development Bank offers technical training providing practical instruction in planning and administration at their annual seminars.
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