Economy & Business - May 2023

MEXICO: Challenges as rural financial agency disappeared

On 29 April, Mexico’s federal senate voted in favour of scrapping the rural development agency, Financiera Nacional de Desarrollo Agropecuario, Rural, Forestal y Pesquero (FND), a decentralised entity that provides funding for small- and medium-sized producers. President Andrés Manuel López Obrador had announced plans to eliminate the FND in mid-April, arguing that it would end corruption and influence peddling, and instead allow for providing support directly to the beneficiaries without intermediaries.

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