With a projected investment of more than US$600 billion over ten years, the new bank will finance projects for roads, bridges, railroads, drinking water systems, electricity grids and high-speed Internet connection, with at least 10% reserved for rural communities.
"The country needed a boost like this. It's not just about concrete and steel, it's about jobs, competitiveness and territorial justice," said Democratic Rep. Maria Sanchez (Calif.).
Although some conservatives warned about the impact on the fiscal deficit, most agreed that this is a strategic investment that will generate future revenues. It is expected to be debated by the Senate in the coming weeks, where it would also have bipartisan support.