The President of the European Investment Bank, Werner Hoyer, and Vice-President, Emma Navarro, have met with senior officials of the Mexican federal government and of the state governments of Veracruz, Oaxaca and Mexico City.
The EU is the principal development investor in the region and the European Investment Bank (EIB) has provided over EUR8.4bn to promote economic and social development in Latin America
EIB President Werner Hoyer and Vice President Emma Navarro, responsible for the Bank’s activities in Latin America, have visited Mexico to highlight the EIB´s commitment to boosting economic growth, employment and prosperity in Mexico and across the region. With this purpose, President Hoyer and Vice-President Emma Navarro have met with the Minister of Finance, Arturo Herrera, the Minister of Economy, Graciela Márquez, the Vice-Minister of Foreign Affairs, Julián Ventura, the Vice-Minister for Latin America and the Caribbean, Maximiliano Reyes, the President's Chief of Staff, Alfonso Romo, the Director General of Nacional Financiera (NAFIN), Eugenio Nájera, the governor of the state of Veracruz, Cuitláhuac García, representantatives of the state of Oaxaca, as well as the Mayor of Mexico City, Claudia Sheinbaum.
“It’s great to be in Mexico to reaffirm our commitment to supporting sustainable projects in the country and region”, said Werner Hoyer. “In the 26 years that the EIB has been working in the region, we have provided over EUR 8.4bn to develop projects aimed at creating jobs and quality infrastructure, and ultimately sustainable economic growth. We are proud of our joint projects in Mexico, including the biggest solar project in the Americas - Villanueva and stand ready to do more for the country and the region.”
EIB Vice President Emma Navarro said: “Our visit confirms the EU Bank’s commitment to continue working with Mexico to foster inclusive growth in the country, through economic development, social cohesion and environmental sustainability. In this sense, we welcome the Comprehensive Development Plan initiative jointly launched by Mexico and partner countries in Central America -El Salvador, Guatemala and Honduras. This initiative is fully aligned with the priorities of the EU the region”.
The European Union Ambassador to Mexico, Klaus Rudischhauser, said: "As the High Representative/Vice-President Federica Mogherini stated, the European Union supports the further development of the Comprehensive Development Plan in broad consultation with local stakeholders and civil society and taking into account these countries' development objectives."
Prior to the visit to Mexico, the EIB delegation, from its headquarters in Luxembourg, visited Colombia to sign a host country agreement for the regional office in Bogota. The new office in Colombia will be the Bank's first in the region, helping the EIB to strengthen its presence and expand its activities across Latin America. During the regional visit, Vice-President Emma Navarro will travel to the Dominican Republic to announce support for post-disaster reconstruction and microfinance agreements.
EU: Latin America's main investment partner
The European Union is the main partner for the development of the Latin America region, its number one investor and second biggest trade partner. The ElB is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy objectives.
The EIB provides economic support for projects in Latin America by offering both long-term investment with favourable conditions and the technical support needed to ensure that these projects deliver positive social, economic and environmental results. Since the EIB began operating in the region in 1993, it has provided total financing of over EUR 8.4bn to support around 120 projects in 14 countries. This includes Mexico, where the EIB is supporting three photovoltaic (PV) solar power plants totaling 1,088 MWp, located in Guanajuato and Coahuila States in Mexico. The Villanueva project in the municipality of Viesca in Coahuila is the largest solar project in the Americas.
In 2018, the EU bank expanded its contribution to sustainable development and climate action in Latin America, providing EUR 639m for the development of 15 projects. This constitutes a record for the number of operations supported by the Bank in the region in a single year. The aim of these projects is to foster sustainable growth and climate action.
The EIB has signed a USD 150 million loan with Nacional Financiera (NAFIN), one of Mexico’s leading development banks, to support companies affected by COVID-19 in Mexico. The loan will help to address the working capital and investment needs of Mexican microenterprises affected by the COVID-19 breakout.
The EIB has signed USD 87m (EUR 75m) to part-finance three photovoltaic (PV) solar power plants totaling 1,088 MWp, located in Guanajuato and Coahuila States in Mexico. The Villanueva project in the municipality of Viesca in Coahuila is the largest solar project in the Americas.