Ten U.S. House members submitted a letter supporting the recapitalization of San Antonio-based North American Development Bank, or NADBank, to a House subcommittee on March 27.

“A capital increase would allow the bank to maintain its current level of investment in the border region,” the letter reads. "Strengthening the NADBank would be an important demonstration of the United States' shared commitment with Mexico to build a stable and prosperous border region. The bank can continue to build needed infrastructure, while helping mitigate high poverty rates and security challenges along the U.S.-Mexico border."

NADBank approved $131.7 million in new loans in 2018. Its outstanding loan portfolio was $1.28 billion. The total investment value of all the bank's projects is more than $9.7 billion.

Most of the U.S. representatives who signed the letter were from states along the border. Texans signing the letter were U.S. Reps. Filemon Vela, Vicente Gonzalez, Joaquin Castro and Veronica Escobar. Other signers from border states were U.S. Reps. Raul Grijalva of Arizona and Juan Vargas, Scott Peters, Tony Cardenas and Maxine Waters of California. U.S. Rep. Gwen Moore of Wisconsin was the only one to sign the letter not from a state along the Southern border.

A second letter signed by State Senators representing states on the southern border is being delivered to Ambassador Robert Lighthizer, the current U.S. trade representative inside the Trump administration.

Arizona’s senators Martha McSally and Kyrsten Sinema, New Mexico’s Martin Heinrich and Dianne Feinstein in California signed the second letter.

Texas senator John Cornyn alongside U.S. Reps. Henry Cuellar, Will Hurd, Vicente Gonzalez, Michael McCaul, Filemon Vela, Scott Peters and John Carter also supported the move with signatures of their own.  

“The U.S.-Mexico border region is critical to the North American economy and has a significant stake in the health of free trade and in the success of [United States-Mexico-Canada Free Trade Agreement],” according to the second letter.

Funding for NADBank is in the fiscal 2020 appropriation budget but has not been approved. NADBank representatives are still confident that this year the bank will have its half of the $3 billion in recapitalization of the bank approved.

There are also bills filed by U.S. Sen. John Cornyn and U.S. Rep. Henry Cuellar, both from Texas, to authorize the recapitalization of NADBank.

NADBank's credit rating was affirmed by Fitch Ratings in recent weeks as Aa for long-term bonds.

Alex Hinojosa is the managing director of NADBank, which merged with the Border Environment Cooperation Commission in recent years.