(AGENPARL) – ven 16 giugno 2023 PRESS RELEASE
2023-226-EN
Mexico City, 16 June 2023
Mexico: EIB and Mexican government reinforce partnership to finance country’s sustainable development
Strategic partnership between the EIB, as the bank of the European Union, and Mexico reinforced, with greater cooperation on financing sustainable development in the country.
Priority public infrastructure projects for Mexico that integrate social and environmental aspects and would benefit from sustainable financing identified.
On the occasion of European Commission President Ursula von der Leyen’s visit to Mexico and her meeting with the President of the United Mexican States Andrés Manuel López Obrador to strengthen EU-Mexico partnerships, the European Investment Bank (EIB) signed a declaration of intent in Mexico City with the Ministry of Foreign Affairs to reinforce their strategic partnership on financing sustainable development in the country.
As part of ongoing work between Mexico and the European Union on the Global Gateway, the agreement will give fresh momentum to the existing strategic partnership between the European Union, the EIB and Mexico. It highlights the key target priority areas of common interest that will be supported under a long-term cooperation initiative, through which appropriate and affordable sustainable finance instruments will be made available to support relevant initiatives. The agreement also paves the way for the creation of a technical working group for collaboration on Mexican programmes and projects that would benefit from long-term investment, with favourable conditions, and technical support as needed.
The targeted programmes and projects will be aligned with the EU Global Gateway initiative. They are expected to generate positive social, economic and environmental results for the benefit of people in Mexico. Some examples include the Plan Sonora for Sustainable Energy and related services, and projects in line with the interests of institutions such as the Federal Electricity Commission (CFE), the National Water Commission (CONAGUA), Lithium for Mexico (LITIO MX), the National Bank of Public Works and Services (BANOBRAS), Nacional Financiera SNC (NAFIN), the National Bank of Foreign Trade (BANCOMEXT), and the Ministry of Welfare, among others.
The Global Gateway is the European Union’s contribution to narrowing the global investment gap worldwide. Between 2021 and 2027, the European Union expects to mobilise up to €300 billion of investments for sustainable and high-quality projects, taking into account the needs of partner countries and ensuring lasting benefits for local communities. This chimes with Mexico’s ambitious plans for sustainable finance for the less favoured social sectors and regions of the country, to take advantage of changes in global trade and models of production. The EIB is a partner that can channel that ambition into tangible projects by collaborating with the various entities in Mexico.
The declaration of intent was signed by Kristin Lang, EIB Head of Division for Latin America and Caribbean – Public Sector, and by Ambassador Carmen Moreno Toscano, Undersecretary of Foreign Affairs of the United Mexican States.
“I am very pleased to announce the strengthening of the EIB’s longstanding relationship with Mexico to enable strategic investments in the country. EIB Global is a natural partner for Mexico with its ambitious climate agenda. I am proud to see cooperation between the European Union and Mexico growing through initiatives like these,” said Lang.
Ambassador and Head of the Delegation of the European Union to Mexico Gautier Mignot said: “Team Europe, consisting of the European Union, its Member States and the European Investment Bank, is determined to support Mexico’s sustainable development under the Global Gateway. It will respond to the country’s strategies and the needs of its people, as expressed by the President of the European Commission and the President of the United Mexican States at their meeting today. This important declaration of intent is a tangible example of the EIB’s contribution to this joint effort, which will be put into action through projects implemented by other members of Team Europe in Mexico.”
Background information
About the EIB: