The Institute of the National Fund for Workers' Housing (Infonavit) will carry out the placement of credits in Baja California Sur for improvements, conversion of minimum wage credits to pesos, as well as the implementation of collection solutions. The announcement was made by Octavio Romero Oropeza, general director of Infonavit, alongside President Claudia Sheinbaum Pardo at a press conference from the Second Naval Zone Los Cabos, on the Marina Paseo located in Cabo San Lucas.
According to the details shared during the conference, beneficiaries will be able to use the credits to acquire materials or goods intended to condition, equip, repair, or improve elements of their homes. The credit amount ranges between 9,000 and 156,000 pesos, with terms from 1 to 10 years and an interest rate not exceeding 11%. Of the credit, 80% is allocated for the purchase of materials and 10% for labor, available to those who contribute to the IMSS by presenting their official identification and proof of address.
It was also emphasized the possibility of eliminating unpayable debts in Minimum Wage Units, benefiting 10,530 workers who will be able to freeze the balance and monthly payments of their credits. Among the benefits of the program, fixed payments without annual increases, a fixed interest rate adjusted to the income of the borrowers, and clarity in payments and balances until the end of the credit were mentioned.
Romero Oropeza explained that to launch this program, a constitutional change is needed, which has already been approved by the Chamber of Deputies and must now pass through the Senate and the majority of states in the local Congresses for its application. Infonavit aims to have a permanent presence in Baja California Sur and throughout Mexico, to advise and register at least one million people who require the granting or regularization of a credit.