The World Bank is providing a total of USD713.24 million to improve the climate resilience of Mexico’s energy, transportation and environment sectors.
The grant and loan aid package includes USD401 million to foster low carbon development in Mexico through increased renewable energy sources, energy-efficient houses, and climate-resilient land management and forestry activities.
Some USD307.74 million will be used to promote the use of compact fluorescent bulbs and replace old and inefficient refrigerators and air conditioning equipment.
The remaining USD4.5 million grant from the Global Environment Facility will support climate change adaptation in Mexico’s coastal wetlands.
Mexico’s coastal city of Cancun will host the next United Nations climate change summit, which will run from Nov. 29 to Dec. 10.