The World Bank approved a package of three initiatives totaling US$713.24 million to bolster Mexico's efforts to 'green' its economy.
The initiatives focus on climate change public policies, efficient lighting and appliances, and adaptation.
23 November 2010: The World Bank has approved a package of three initiatives totaling US$713.24 million to bolster Mexico’s efforts to “green” its economy. The initiatives focus on climate change public policies, efficient lighting and appliances, and adaptation.
These initiatives comprise the following loans and grants: a US$401 million loan for public policy development aimed at supporting government efforts to meet the climate change mitigation and adaptation goals set forth in its Climate Change Special Program; a US$307.74 million package for the Efficient Lighting and Appliances Project, which is composed of a US$250 million World Bank loan, a US$50 million Clean Technology Fund (CTF) concessional loan, and a US$7.12 million Global Environmental Facility (GEF) grant; and a US$4.5 million GEF grant for the Gulf of Mexico Coastal Wetlands Climate Change Impact Adaptation Project.
These initiatives focus on a comprehensive service package that includes advisory, technical assistance, knowledge exchange and coordination services, jointly supporting the creation of a framework that will allow Mexico to advance towards a low-carbon economic growth and includes measures to adapt to climate change impacts. The Government of Mexico will host the 16th session of the Conference of the Parties (COP 16) of the UNFCCC in Cancun, from 29 November-10 December 2010. [World Bank Press Release on Mexico’s Green Program] [World Bank Press Release on Mexico’s Three Initiatives]