CEMEX: Empowerment through Investment
Inter-American Development Bank (IDB)
Throughout Latin America low-income neighborhoods have difficulty in paving city streets. Municipalities are typically short of funds, and many informal urban settlements have not yet been properly incorporated into the tax base. An innovative solution has been devised by CEMEX, a multinational cement company based in Mexico, to mobilize both public and private resources to pave streets in low-income neighborhoods. Under the plan, called Mejora tu Calle, city residents will receive individual microloans and then pool the resources to finance half the cost of street pavement for their neighborhood. Municipalities will contribute the other half of the cost.