TDA AND MEXICO'S BANOBRAS SIGN MASTER GRANT AGREEMENT

For Immediate Release

ARLINGTON, VA - Reflecting a commitment to U.S-Mexico bilateral cooperation, today the U.S. Trade and Development Agency (TDA) and the Banco Nacional de Obras y Servicios Públicos, S.N.C. (BANOBRAS) entered into a Master Grant Agreement that will support regional development and priority infrastructure projects in Mexico. This initiative will help contribute to the fulfillment of the goals of the "Partnership for Prosperity" as outlined in the Action Plan presented to President George W. Bush and President Vicente Fox, during President Bush's March 2002 visit to Monterrey, Mexico. TDA Director Thelma J. Askey and BANOBRAS Director of Strategic Planning Ricardo Ehrsam Gatica signed the agreement at a ceremony held at TDA headquarters.

Under the framework of the Master Grant Agreement, TDA will provide grant funds to BANOBRAS to contract with U.S. and Mexican companies to carry out studies related to BANOBRAS technical assistance programs for municipal and state governments and to plan infrastructure projects supported by BANOBRAS throughout Mexico. The TDA funding commitment and dollar value will be established for each specific study. In March, TDA signed a similar Master Grant Agreement with Nacional Financiera, S.N.C. in Monterrey, Mexico. TDA has agreements in place to support consultancies at multilateral development banks, such as the World Bank, International Finance Corporation, Inter-American Development Bank, and European Bank for Reconstruction and Development. The agreements with NAFIN and BANOBRAS are the first such TDA agreements with a national development bank and highlight the importance of the U.S.-Mexico bilateral relationship. 

The U.S. Trade and Development Agency promotes American private sector participation by helping U.S. companies pursue business opportunities in developing and middle income countries. Through the funding of feasibility studies, orientation visits, specialized training grants, business workshops, and various forms of technical assistance, we help American businesses compete for infrastructure projects in emerging markets. In addition, the agency promotes capacity building initiatives and supports U.S. government trade, economic policy and development objectives around the world.