Mexico Should Boost Financing for Small Businesses, Ebrard Says

Bloomberg, 11/10/11

Mexico should boost financing and guarantees for medium and small businesses, Mexico City Mayor Marcelo Ebrard said. The government needs to reach an agreement with banks to increase access to business loans, said Ebrard, who aspires to the nation’s presidency and is competing with former Mexico City Mayor Andres Manuel Lopez Obrador for the candidacy of the Party of the Democratic Revolution, known as the PRD. Mexico holds presidential and congressional elections next July.

“If the risk from those loans calls for bigger guarantees, the government may fund those guarantees,” he said in an interview yesterday in Mexico City. A program in the capital to renovate the city’s fleet of aging taxes could be used as a blueprint for a national plan to replace older city buses and improve public transportation, he said.

Ebrard served as Mexico City’s public safety minister and social development minister during Lopez Obrador’s mayoral term, which ended in 2006. The PRD is conducting three popularity polls this week to determine its presidential candidate.

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