News

The Village of Vinton in El Paso County, Texas, celebrated today the completion of its Water Distribution System Project and is now providing access to safe and reliable drinking water services for 1,500 residents.

Today, the Board of Directors of the North American Development Bank (NADBank) held its first semiannual meeting of 2023 in Mexico City, during which the Board reviewed the Bank’s operations, policies and recent project activity, as well as strategic planning issues for the next four years. The Board met in Mexico City and commemorated 200 years of diplomatic relations between Mexico and the United States.

The North American Development Bank (NADBank) is pleased to announce that the first class of undergraduate students has been selected to serve as NADBank University Ambassadors from July 1 to December 31, 2023. The list of the students selected has been published on its website.

San Antonio, Texas – The North American Development Bank (NADBank) is joining a consortium of lenders in an existing US$200 million Nomura-led senior secured credit facility supporting a project company of Paz Oil Company Ltd (TASE: PZOL; ilA+ ), Arava Power Company Ltd and Menora Mivtachim, Ltd., for the design, construction and operation of a 200-MW_AC solar park project in Uvalde County, Texas, which is expected to generate electricity equivalent to the annual consumption of 13,735 houses.

This morning the City of Ojinaga kicked off the rehabilitation of its sanitary sewer system, which will help protect public health and the environment by reducing the risk of pipe failures that could cause sewage overflows onto local streets and contaminate surface and groundwater.

A second public meeting was held today to present information about two proposed wastewater infrastructure projects in Tijuana, Baja California. The projects consist of rehabilitating the Tijuana River Diversion System and the International Collector. The purpose of both projects is to reduce discharges of untreated wastewater into the Tijuana River and minimize transboundary flows into the United States, as well as prevent waterborne diseases caused by exposure to untreated wastewater.

A water distribution system for the Hillcrest subdivision in El Paso County, Texas, kicked off construction during a groundbreaking ceremony that took place this morning. This project will provide first-time access to safe and reliable drinking water service for 107 homes in this unincorporated area located approximately 17 miles northeast of downtown El Paso.

The North American Development Bank (NADBank) acted as purchaser to the Laguna Madre Water District - Long Island Village Defined Area Unlimited Tax Bonds, Taxable Series 2023 in the amount of $20.8 million. The proceeds of the issuance will be used to replace deteriorated water distribution and wastewater collection systems for the entire community of Long Island Village, which will directly benefit close to 3,000 residents in this unincorporated area of Cameron County, Texas.

The North American Development Bank (NADBank) signed a US$2.4 million grant agreement with the water utility, Comisión Estatal de Servicios Públicos de Mexicali (CESPM) in Mexicali, Baja California, to finance its Phase II wastewater system improvement project. These improvements will help reduce the risk of pipeline breaks and sewage spills onto local streets and into the New River, which flows northward into the United States.

Fitch Ratings has affirmed NADBank's Long-Term Issuer Default Rating (LT IDR) at 'AA+' with a stable outlook.

To read the full list of key rating drivers, click here