Sustainable infrastructure to receive boost in Mexico as IFC okays $100m loan

Mexico city is set to begin witnessing a development of hotel projects and green buildings that promote practices such as efficient energy use, rational water
management, waste removal and reduction of harmful emissions to the environment.

This is thanks to a $100 million dollar loan facilitated by the International Finance Corporation (IFC), member of the World Bank Group, and Banco Sabadell, a leading institution in digital banking in Mexico.

According to a statement from the UFC made available to business a.m, Banco Sabadell will administer the loan and channel the funds to clients seeking to to boost the development of sustainable infrastructure in Mexico.

“This collaboration is more than a simple transaction; it is a long-term
relationship with a partner who shares our commitment for long-lasting
actions in an environment not only economic and political but social and
environmental.” Said Francesc Noguera, director general of Banco
Sabadell Mexico.

“IFC has two strategic objectives in Mexico: promote competition in
the financial sector and encourage the green finance sector, to support
the Mexican economy that requires more and better credit.
With this loan, we accompany Banco Sabadell in its growth in Mexico, and
contribute to the development of high value-added products for its clients in key sectors for the reduction of greenhouse gas emissions”, said Ary Naïm, country manager of IFC Mexico.

Banco Sabadell´s current technology-based business model allows to
remove bank branches, cash and reduce the use of paper, to confirm their
commitment as an actor in favor of the environment. These practices,
coupled with the bank’s experience in financing projects with similar
characteristics in Mexico, are the reason that IFC chose Sabadell as a
key ally, the statement explained.

IFC said it believes that investment in green buildings and sustainable tourism
infrastructure contributes substantially to the development of countries.

“This generates a catalytic effect that encourages growth in areas such as services, energy, and telecommunications,” the world Bank group member said.

In the Climate Business Opportunities in Cities 2018 study, IFC estimates that in terms of green buildings, the Latin American and Caribbean region represents a potential investment of $4.1 trillion until 2030.