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$10 million boost for microfinance plan by Inter-American Development Bank

Monday, July 4, 2011

The Inter-American Development Bank will provide $10 million as a partial credit guarantee to Patrimonio Hoy, a microfinance initiative of Mexico-based cement maker Cemex.

Patrimonio Hoy provides microloans for construction materials, labor and technical building assistance.

The microfinance initiative will use the funding guarantee to scale up lending in Mexico, Colombia, Costa Rica, Nicaragua and the Dominican Republic.

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