Mexican President completes goal of providing microcredits to women in Michoacán
Summary and headline written by AI from the source article. How we work
President Claudia Sheinbaum Pardo completed a goal to provide 56,500 microcredits to women in the Mexican state of Michoacán.
She oversaw the final delivery of 551 microcredits in Apatzingán to fulfill the pledge made through Financiera para el Bienestar (FINABIEN). These loans are offered at zero interest and do not require traditional bank collateral, a system the president describes as a trust based on the word of the borrowers.
The federal government aims to use these credits to reactivate the economy and support self-employment for women. The president also announced new infrastructure projects for the region, including two new national high schools named Margarita Maza, a sports center called México Imparable, and a community center for women called Centro LIBRE. These projects focus on education, sports, and social support for vulnerable groups.
Rocío Mejía Flores, the director of FINABIEN, reported that the government has distributed more than 110,000 such microcredits across Mexico in two years. This initiative involved a total investment of 1,800 million pesos, more than half of which went to Michoacán.
Additionally, Adelfo Regino Montes of the National Institute of Indigenous Peoples noted that the government allocated over 6,100 million pesos to support justice and manufacturing for various indigenous groups, including the P'urhépecha, Nahua, Mazahua, Otomí, and Matlatzinca or Pirinda peoples.
