WB lends USD 50m to Mexico for energy projects in agribusiness

Nov 21, 2012 - The World Bank (WB) approved yesterday an additional loan of USD 50 million (EUR 39.1m) to support renewable energy and energy efficiency projects among small- and mid-sized agribusinesses in Mexico.

The financing gives continuity to a Mexican project aimed at saving greenhouse gas emissions and 308 MW of energy through energy efficiency and biomass-to-energy technologies, such as solar-powered water heaters, biodigesters, and generators to convert biogas into electricity.

The loan is for 12 years. The project, managed by Mexico's agriculture ministry, will receive USD 131.3 million in additional financing, including the USD 50 million from WB, a USD 10.5 million grant from Global Environment Facility (GEF) and contributions from the beneficiaries.

In 2009, WB approved USD 50 million for the project.
(USD 1 = EUR 0.782)

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