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World Bank loans US$50mn for sustainable rural development project

Bnamericas Published: Wednesday, February 25, 2009
The World Bank has approved a US$50mn loan to support Mexico's sustainable rural development project, aimed at lowering greenhouse gas emissions (GGEs) in the agricultural sector, the financial entity reported in a release. In addition, the Global Environment Facility (GEF) had donated US$10.5mn for the project, the release said. Aimed at promoting the adoption of environmentally sustainable technologies in agribusinesses, which contribute 7% of Mexico's GGEs, the project is made up of four components. The first is promoting investments in environmentally sustainable technologies in agribusinesses. Although the project will primarily focus on existing agribusinesses, support to new agribusinesses could be considered on a case-by-case basis, mainly for the introduction of solar thermal systems, the release said. The second component is implementing support services to ensure the quality of sub-project proposals. This involves partially reimbursing costs associated with business plan preparation, including energy analyses. Meanwhile, the third component is institutional strengthening through activities financed by the project, including policy development assistance to address climate change-related issues and the environmental impact of sub-projects. This item also includes institutional strengthening of areas within agriculture, livestock production, rural development, fisheries and food ministry SAGARPA. The fourth component is project management, monitoring and evaluation.

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