Mexico launches $1.2 billion fund to help homebuilders
MEXICO CITY, March 6 (Reuters) - Mexico launched a 15 billion peso (US$1.18 billion) fund on Wednesday to help the country's homebuilders, whose shares have declined due to concern over a government housing policy to stimulate inner-city, vertical construction of social housing.
Many homebuilders have large land holdings outside cities.
"The beneficiaries of this guarantee program will be the efficient developers with healthy balance sheets and doable projects," Deputy Finance Minister Fernando Aportela said in announcing the plan.
MEXICO CITY, March 6- Mexico launched a 15 billion peso fund on Wednesday to help the country's homebuilders, whose shares have declined due to concern over a government housing policy to stimulate inner-city, vertical construction of social housing. Many homebuilders have large land holdings outside cities.