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Mizuho Bank Ltd. unit Mizuho Bank Mexico SA signed a memorandum of understanding with Banco Nacional de Comercio Exterior S.N.C. Institución de Banca de Desarrollo, or Bancomext, for business cooperation regarding local currency funding.
Under the agreement, Mizuho will reinforce the framework for local currency funding to accommodate the short-term financing needs of Japanese companies as they expand in Mexico.