Featured photo: Updating property records in the State of Mexico
OPIC financing is supporting a project by the Public Registry for the State of Mexico, to update all its property records currently stored in 19 buildings across the country, in order to provide greater accuracy and access. The photo shows the old storage system in one public registry in Toluca, Mexico, in which property titles and deeds were written in pencil and stored in paperbound books. The books wrapped in plastic contain records that have already been scanned to be made available electronically. Under the new system, homeowners will be able to register deeds and titles so that they will be available electronically, and will have greater access to credit, which should support local investment.
In 2010, OPIC supported a local currency capital market bond issuance in Mexico, which will expand Mexican capital markets and their ability to support infrastructure improvements such as the updated public registry.