The European Investment Bank (EIB) has provided a EUR 50 million credit line to Banco Nacional de Comercio Exterior (Bancomext) to finance small and medium-sized environmental projects implemented by private and public sector operators in Mexico.
This is the first EIB intermediated loan in Mexico and the first operation with the Mexican public development bank Bancomext. Its purpose is to part-finance small to medium sized projects implemented by the private and public sectors aimed at improving or protecting the environment, including environment protection and sustainable development.
The eligibility criteria for these projects include tackling climate change, protecting nature, biodiversity and natural resources, improving environment and health, promoting sustainable use of natural resources, including waste management and enhancing urban environment. All projects under this scheme will have comply with EIB’s environmental guidelines and all local environmental requirements. Project promoters interested to benefit from this credit line are requested to apply directly to Bancomext through the contacts available on the EIB website: www.eib.org/attachments/lending/inter_ala.pdf
In line with the European Council Decision of 19 december 2006 governing the Bank’s operations in Partner countries, the project focuses on environmental sustainability, in particular climate change mitigation. The loan is consistent with the EU policy and strategy on Climate Change, which calls for the identification of new tools to strengthen developing country participation in global efforts to address climate change. Additionally, in line with the objectives given for EIB financing in Asia and Latin American countries, the credit line loan will also be open to part finance projects promoted by private sector entities implementing projects featuring an EU interest. Projects would be deemed eligible when those are implemented by subsidiaries of EU companies, joint ventures involving EU companies and private Mexican entities, or those featuring a high level of transfers of technology or of know-how from the EU.
Outside the EU, the Bank contributes to the European development and cooperation policy in some 120 countries in Asia and Latin America, Central and Eastern Europe, the Balkans, the Mediterranean region, Africa, the Caribbean and the Pacific. Since 1993 the EIB has carried out four successive lending mandates for Asia and Latin America. Under the current mandate (ALA IV), covering the period 2007-2013, the EIB is authorised to lend up to EUR 3.8 billion for financing operations supporting EU cooperation strategies in these regions and complementing other EU development and cooperation programmes and instruments in these regions. The EUR 3.8 billion regional ceiling is broken down into indicative sub-ceilings of EUR 2.8 billion for Latin America and EUR 1 billion for Asia.