The “Renaissance Women” (Mujeres Renacimiento) program supports self-employed women who have families and who work to support their daughters and sons.
“President Claudia Sheinbaum will support women aged 60 to 64 on a bi-monthly basis and we will support women aged 60 and under,” Ermilo Barrera Novelo, said.
The Secretary of Economic Development and Labor explained that the programs have a focus on supporting women producers who have always worked under unequal conditions since only 3 out of 10 women in Mexico have access to financing.
The amount of 230 million pesos will be distributed in three programs: one will focus on women’s self-employment and there will be in-kind support for 20 thousand pesos, meaning they will be able to acquire essential equipment and supplies for their businesses.
The second program consists of granting financing and microcredits from 5 thousand to 75 thousand pesos for a repayment period of 36 months with a fixed interest rate of 9 percent.
The third program is for women who have a business and therefore will be able to access financing with Nacional Financiera (Nafin) where they can obtain loans of up to 5 million pesos for 60 months.
“We will also accompany them and give them advice and training because we will work on collaboration agreements with Nafin and other financial institutions,” she explained.
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