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 Supporting Mexico’s Program to Combat Climate Change

 

Paris, 16 February 2010

 
 
terrain.jpgTo mark the visit of AFD’s Chief Executive Officer, Jean-Michel Severino, to Mexico, a €185M long-term loan was signed on 16 February 2010 between the Federal Government of Mexico and Agence française de Développement to support Mexico’s ambitions in terms of combating climate change. 
 
 
 
The Mexican Government set out very early on to combat climate change and has – under fresh impetus from President Calderon – implemented a voluntarist national strategy to combat greenhouse gas emissions. This strategy is set out in the Special Climate Change Program 2009-2012 (“Programa Especial de Cambio Climático 2009-2012” or SCCP) which is one of the most ambitious climate plans in the world. The SCCP takes a long-term vision and provides for a series of mitigation, adaptation and cross-cutting measures which are organized into 106 objectives and over 300 sub-objectives. This document specifically sets the target of reducing GHG emissions by 50% by 2050 compared to their 2000 level. President Calderon was also behind the proposal to create a Green Fund which was supported by President Sarkozy during the UN Climate Summit on 22 September 2009.
 
France, via AFD’s financing which falls within the framework of the new mandate it has been given to promote “green and inclusive growth”, is consequently completing its climate partnership with a sizeable financial component. Mexico has been badly affected by the crisis (fall in GDP estimated at 7.3%) and it would appear extremely appropriate for a bilateral partner such as France to encourage Mexico’s public policy on the climate. This operation is consequently expected to build Mexico’s capacities to manage climate challenges.
 
AFD’s support for the SCCP is based on three areas:
 
- a €185M non-earmarked budget loan;

- a targeted technical cooperation program for both sectoral and cross-cutting issues financed by grants and currently under consultation with our Mexican partners. The aim is to help orient key sectoral policies (for example, land use planning and forest preservation), promote inter-ministerial political dialogue and contribute to reflection on SCCP-related methodologies. On the last point, the topics envisaged concern the analysis of CO2 emission reductions by sector or region, the enhancement of planning methods for mitigation measures and the analysis of the sustainability of the growth path. For example, the fact of giving an economic value to the physical, natural or human resources that are used for growth changes the vision of real costs. Inappropriate forest exploitation, landscape destruction, or threats to a natural environment consequently become elements that influence investment choices.

- the establishment of a high-level Franco-Mexican dialogue on climate change ahead of the COP 16 in Mexico at the end of 2010. This will, when required, involve the Ambassadors in charge of climate change negotiations. This dialogue will make it possible to share French and Mexican experiences in implementing “climate” policies. 
 
The Mexican Ministry of Finance is the natural counterpart for the budget loan. The Ministry of Environment and Natural Resources (SEMARNAT) will, for its part, be AFD’s main technical counterpart. In this respect, the signing of a Memorandum of Understanding (MoU) has been scheduled which will stipulate the content of the technical cooperation program and its implementation methods.
 
 
 
About AFD


Agence Française de Développement (AFD) has been combating poverty and promoting development in South countries and Overseas France for over 60 years and implements the development policy defined by the French Government.
AFD is active in the field in over 50 countries and finances and supports projects to improve living conditions for populations, boost economic growth and protect the planet: getting children into school, supporting farmers and small companies, providing water supply, preserving tropical forests, combating climate change…
 In 2008, AFD earmarked 4.5 billion euros to finance operations in South countries and Overseas France. Thanks to this financing 6.9 million children were able to go to school and 4.4 million people gained access to a water supply. Energy efficiency projects for the same year will save 3.3 million tons of CO2 annually. www.afd.fr
In June 2009, the French Government authorized an extension of its operations to nine new Asian and Latin American countries, including Mexico, with a mandate to support green and inclusive growth. AFD opened an agency in Mexico in September 2009.