Fifth Credit Line for BANCOMEXT under GREEN Operations
Supporting Energy Efficiency and Renewable Energy Projects in Mexico

• Region: Latin America and the Caribbean
• Infrastructures
• Environment
• Untied Loans
• Guarantees

1. The Japan Bank for International Cooperation (JBIC, Governor: HAYASHI Nobumitsu) signed today a loan agreement for a credit line totaling up to USD100 million, of which the JBIC portion is USD50 million, with the Mexican government financial institution, Banco Nacional de Comercio Exterior, S.N.C., Institución de Banca de Desarrollo (BANCOMEXT). The credit line is co-financed with Citibank, N.A., Tokyo Branch (lead arranger), and Resona Bank, Limited. JBIC will also provide a guarantee for the co-financed portion.
     
2. This credit line is intended to finance, through BANCOMEXT, energy efficiency and renewable energy projects in Mexico as part of JBIC's GREEN operations^*1. This is the fifth such credit line made to BANCOMEXT since October 2011^*2. In November 2024, JBIC and BANCOMEXT signed a Memorandum of Understanding (MOU) ^*3to discuss solutions to the social challenges Mexico faces in the power sector, decarbonization, and energy efficiency, as well as the development of projects in the hydrogen and ammonia fields through the investments, products, and technologies of Japanese companies. The MOU also aims to promote the country’s decarbonization and energy transition through financial support. This fifth credit line was established following consultations between the two banks in accordance with the MOU.
     
3. BANCOMEXT is a government financial institution in Mexico with a mission to promote foreign trade and attract foreign capital. It provides support based on the government’s environmental initiatives. JBIC and BANCOMEXT have built a close relationship over more than 30 years through the provision of JBIC loans for exports of machinery and equipment to Mexico and the promotion of the country's industrial investments and exports. In its Nationally Determined Contributions (NDC), an action plan under the Paris Agreement, the government of Mexico set a goal to reduce greenhouse gas emissions by 35% to 40% from the base scenario by the year 2030. Furthermore, at the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) held in November 2024, the government of Mexico announced its pledge to achieve net-zero greenhouse gas emissions by 2050. In line with this commitment, the government released the National Development Plan 2025–2030 in April 2025, identifying “sustainable development” as one of its four key pillars, which includes the promotion of renewable energy projects, the expansion of the power transmission network, and the advancement of energy efficiency. The credit line will contribute to such government initiatives.
     
4. In the Fifth Medium-Term Business Plan, released in June 2024, JBIC aims to contribute toward realizing both carbon neutrality and economic growth. In addition, in its ESG Policy, released in October 2021, it is committed to pursuing ambitious and accelerated efforts to reduce its operational GHG emissions to net zero by 2030 and achieving net zero emissions of its finance portfolio by 2050. JBIC will make efforts to contribute toward realizing global carbon neutrality by supporting and accelerating energy transitions toward a decarbonized society in emerging and developing countries. The credit line is in line with the Medium-Term Business Plan and ESG Policy of JBIC. In addition, several Japanese companies with strengths in manufacturing energy-efficient equipment, including high-efficiency industrial steam boilers, cooling and refrigeration systems, and large-scale commercial air conditioning units, have entered the Mexican market. By providing the credit line to these sectors, JBIC will support the overseas expansion of Japanese companies that maintain a strong presence in these areas, as well as those aiming to enter new sectors with an eye on future market growth.
     
5. As Japan's policy-based financial institution, JBIC will continue to support global environmental preservation efforts in cooperation with overseas government financial institutions and Japanese private financial institutions, including regional financial institutions, by drawing on its various financial facilities and programs for structuring projects and by performing its risk-assuming function.
     

Note

1. *1 
   See Announcement on July 2, 2018.
2. *2 
   See Press Releases on October 11, 2011, July 28, 2014, April 1, 2016, and November　12, 2020.
3. *3 
   See Press Release on November 11, 2024.