During the inauguration of the 79th National Banking Convention, “Mexico and its Banks: Key Players in the New International Economic Order,” in the state of Guerrero, President Enrique Peña Nieto stressed the benefits provided by financial reform to vulnerable sectors.

“One of the most important results of Financial Reform is the stronger links between private financial institutions, development banks and the authorities. This increased closeness has allowed us to strengthen and deepen constructive dialogue for the benefit of the country.” 

Two years after its enactment, financial reform has made it possible to have more and cheaper credit. In addition to transforming the financial system itself, it is contributing to the transformation of other areas of national life. This is exemplified by the beneficiaries of the PROSPERA program. 

From February to December 2015, the Youth Credit Program supported 53,000 young entrepreneurs who have been able to design their business model, 400 of whom have obtained loans totaling $172 million pesos. 

The SME Women Program offers financing for up to 5 million pesos with a preferential interest rate of 9% to 10%.

From 2012 to 2015, housing credit granted by the Federal Mortgage Society and the Housing Operating and Bank Financing increased by 39.9% in real terms.

Credit for the rural sector from FIRA, the National Development Financial Organization, and FOCIR has increased by 49.7% in real terms over the same period.

“This is what Financial Reform is about, having a positive impact on economic growth, supporting the domestic market and, above all, improving the everyday lives of Mexican families.The government has therefore taken the necessary measures to preserve our macroeconomic stability, and will continue to do so. My administration will continue generating conditions of certainty to cope with the volatility of the international economy.”