To foster the development of the infrastructure in the state, a representative of the local Ministry of Innovation and Economic Development (SIDE) met with staff from the UK Embassy in Mexico to discuss infrastructure and gather key players in the infrastructure and financing environment.
During the event "Resilient Infrastructure: How to finance future projects in Mexico?” organized by the British Embassy’s Department of International Trade (DIT), the participants discussed diverse topics such as attracting investment for sustainable infrastructure projects, the private sector’s participation in solving the lack of investment, as well as presenting various projects under development.
According to the Chihuahua’s government, the notion of resilient infrastructure involves enhanced project planning with adequate investment in the engineering and maintenance phases, avoiding cost overruns and returning benefits to inhabitants and companies. “The way to achieve it affordably is to be selective, basing the investment decisions on comprehensive analysis and the development of backup plans for situations when betting resilience is not warranted,” the government’s website states.
Recently Chihuahua authorities have exploited local diplomacy to develop infrastructure projects, in February 2022, the local governments of Chihuahua, New Mexico and Texas agreed on the creation of a binational group to promote infrastructure projects to improve connectivity between the border states, María Eugenia Campos, Governor of Chihuahua explained that the plan will detonate the economic reactivation in the region and improve the quality of life of inhabitants on both sides of the border.
According to Campos, the projects will optimize commercial routes and create a logistical hub in Ciudad Juarez, as well as interconnect railroads and highways to improve cross-border transportation. The US Ambassador to Mexico, Ken Salazar will determine which projects qualify for funding by recently approved US infrastructure package, which aims to allocate over US$1.2 billion to new projects.
Fernando Alba, Undersecretary of Mining, Industry and Energy, SIDE, attended the event and held personal meetings with some participants. For the British Embassy, various officials were present, including Jesús León Director, Center of Climate Change and Ecology Juan Flores, Country Manager, International Finance Corporation and Jesse McDougall, Head of Export Finance. After the event, Alba announced the possibility of holding a promotion and financing fair in Chihuahua City with the participation of the British Embassy.