IDB Invest has provided a comprehensive financing solution for a total amount of $42 million to Grupo Hi-Tec to strengthen the manufacturing sector in Mexico. This initiative seeks to support micro, small and medium-sized enterprises (MSMEs) and promote green construction projects, thus promoting sustainability and economic growth in the country.

The financing is comprised of two operations: a $30 million loan to Hifin Solution, the financial arm of Grupo Hi-Tec, which includes $15 million from IDB Invest and $15 million mobilized from institutional investors, to finance the acquisition or leasing of computer numerical control (CNC) machines and production equipment by micro, small and medium-sized enterprises (MSMEs).

The second loan includes $12 million to Quasar, an affiliate of Grupo Hi-Tec, which includes $6 million from IDB Invest and $6 million mobilized from institutional investors, to finance the construction of a state-of-the-art green industrial facility in Querétaro, Mexico.

The project will allow Grupo Hi-Tec to expand its support to MSMEs in Mexico at a key moment for the country's industry, through the leasing and financing of CNC machinery in divisions such as chip removal, sheet metal processing and plastic injection. It will also contribute to improving training in the use of this technology, thanks to the incorporation of training rooms, simulators and other functions within the new industrial plant.

IDB Invest will also provide support in improving the environmental, social and corporate governance policies and practices of Grupo Hi-Tec, as well as advisory services to ensure a sustainable design of the industrial plant and the obtaining of EDGE certification, an international tool that helps reduce the use of energy, water and carbon in buildings.

Through this transaction, IDB Invest reaffirms its commitment to promote financial inclusion and promote sustainability in strategic sectors such as manufacturing through projects that positively impact competitiveness and productivity in Latin America.

This deal is expected to contribute to four of the Sustainable Development Goals: Decent Work and Economic Growth (SDG 8), Innovation and Infrastructure (SDG 9), Responsible Production and Consumption (SDG 12), Climate Action (SDG 13), and Partnerships to Achieve the Goals (SDG 17).

About IDB Invest

IDB Invest is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of US$21 billion in managed assets and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that respond to the needs of its clients in various sectors. Visit our website idbinvest.org.

About Grupo Hi-Tec

Grupo Hi-Tec is a leading Mexican company in the marketing of computer numerical control (CNC) machinery, tooling, accessories and consumables for the precision machining industry in various industrial segments. It also provides flexible financing solutions, as well as technical, engineering and applications services throughout the Mexican Republic. With cutting-edge technological solutions, Grupo Hi-Tec has consolidated its position in the Mexican manufacturing industry over more than 30 years of activity in the country.