Sheinbaum Announces Banking Credit Increase and $5.6 Trillion Infrastructure Plan

Cancun, Quintana Roo — Mexican President Claudia Sheinbaum announced a major banking credit expansion and a $5.6 trillion infrastructure investment plan during the 89th Banking Convention of the Mexican Banking Association (ABM) on Tuesday.

Sheinbaum praised the banking sector’s commitment to increase credit to the private sector from 38% to 45% of Mexico’s Gross Domestic Product (GDP) by 2030. “We ask the banks to increase credit. Mexican banking has much to give the country; it has given, but we need it to contribute even more,” she said from the convention in Cancun.

The president also highlighted Bank of Mexico Governor Victoria Rodríguez Ceja’s announcement about simplifying the CoDi payment system, which will allow people to use it from their mobile phones without fees.

She expressed optimism about the start of negotiations for the Mexico-United States-Canada Agreement (USMCA) and recent economic results, including a historic reduction in poverty with 13.5 million people lifted out of poverty, the strength of the peso, controlled inflation, stable gasoline prices at 24 pesos, a robust domestic market, and a 154% real increase in the minimum wage between 2018 and 2026.

Sheinbaum also noted security improvements, with a 44% reduction in intentional homicides from September 2024 to February 2026 as a result of the National Security Strategy.

The president announced that the Law for Promoting Investment in Strategic Infrastructure for Development with Well-being has been sent to Congress. The legislation includes public and mixed investment of 5.6 trillion pesos in strategic sectors.

In energy, projections indicate that by 2030, Mexico will generate an additional 30,000 megawatts, increase renewable sources to 48%, and reduce dependence on natural gas from 75% to 50%.

The infrastructure plan includes road construction through the National Bank of Public Works and Services (Banobras) and the Ministry of Infrastructure, Communications and Transportation (SICT), along with port, rail, health, and water projects.

Fifteen strategic projects through Nacional Financiera (Nafin) will promote technological innovation in coordination with Mexican academics and scientists.

Sheinbaum also announced continued digitalization efforts, including promoting electronic payments at gas stations and toll booths, and standardizing procedures across all 32 states to facilitate investment and strengthen production chains through the Well-being Poles program.