JBIC has signed a loan agreement with Banco Nacional de Comercio Exterior, S.N.C. (BANCOMEXT) as part of GREEN operations, establishing a credit line to finance renewable energy and energy efficiency projects in Mexico through BANCOMEXT.*1
BANCOMEXT is a governmental financial institution in Mexico with a mission to promote foreign trade and attract foreign capital. The Mexican government has been vigorously implementing measures to cope with climate change, including setting a quantitative goal of reducing GHG emissions to 50 percent of the level in 2000 by 2050. This credit line is thus expected to reduce GHG emissions in Mexico, and provide opportunities to introduce Japan's advanced environmental technologies in the country. This is in line with an initiative announced by the Japanese government in November 2015, "Actions for Cool Earth: ACE2.0."
- *1This loan follows similar loans made to BANCOMEXT in October 2011 and July 2014.