North American Development Bank - American businessThe North American Development Bank (NADBank) is a binational financial institution that provides financial assistance to projects certified by the BORDER ENVIRONMENTAL COOPERATION COMMISSION (BECC). NADBank’s primary functions are to
• promote public and private CAPITAL investment in BECC projects
• supplement such INVESTMENTs with NADBank loans and guarantees
• provide technical assistance for financing BECC projects
NADBank’s BOARD OF DIRECTORS include three members from the United States and three from Mexico, with decisions requiring two supporting votes from members representing each country. U.S. directors are the secretary of state, secretary of the Treasury, and administrator of the Environmental Protection Agency (EPA). NADBank’s headquarters are in San Antonio, Texas. Initial plans for NADBank anticipated $8 billion in border environmental INFRASTRUCTURE needs in the decade from 1995 to 2005 with financing from federal, state, local, and private sources. The U.S. government appropriated $450 million to be directed by the EPA in the first five years. At the beginning of 2001, NADBank was involved in 43 infrastructure projects administering $339 million in EPA construction funds, 26 on the U.S. side and 17 on the Mexican side of the border. Only six projects had been completed at that time, representing a small fraction of the infrastructure needs of the region.