The government of Mexico has obtained the approval of two strategic projects from the Green Climate Fund for an amount of 164.6 million dollars. This is part of the Sustainable Financing Strategy that aims to reduce the vulnerability of the countryside and promote electric mobility in cities.
Regarding this, Gabriel Yorio González, Deputy Minister of Finance and Public Credit (SHCP), explained through his social media that the first project, titled Balsas, will receive 39.5 million dollars from the International Fund for Agricultural Development (IFAD).
This amount will be used to help reduce climate change vulnerability in the basin, benefiting 3.3 million people. He stated that the goal is to strengthen rural and indigenous ecosystems and productive activities, mitigating 3.9 million tons of CO2 over 20 years.
According to the project, “the reason is that the Balsas Basin in Mexico is one of the most marginalized areas, making it vulnerable to climate change, as increasingly irregular rainfall and prolonged dry seasons are reducing agricultural productivity and degrading natural resources.”
The second project, E-Motion, approved by the Green Climate Fund, according to Yorio González, will have financing of 125.1 million dollars, and its main objective will be to promote electromobility and low-carbon transportation in nine Latin American countries, including Mexico.