Mexico Sought $1 Billion Loan from the World Bank: El Economista

(Bloomberg) -- Mexico asked the World Bank for a $1 billion loan, according to El Economista newspaper, which cited a loan agreement it viewed.

Mexico Deputy Finance Minister Gabriel Yorio said the financing was a development policy loan and would not be used for its Covid-19 response program. Yorio did not say in his tweets how large the loan was.

The organization’s board approved it May 31, according to the newspaper. Yorio said in the tweets that the loan was part of general financing and not on top of the debt already authorized by congress.

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