OREANDA-NEWS. The European Investment Bank (EIB) has signed a Memorandum of Understanding (MoU) with Nacional Financiera (NAFIN), one of Mexico’s leading development banks, demonstrating the intention of both institutions to work more closely together to support economic development priorities in Mexico. The MoU provides a general framework to strengthen the cooperation and collaboration between the EIB and NAFIN in matters of common economic interest.

EIB and NAFIN are cooperating to potentially set up a credit line aimed at supporting projects combatting the effects of climate change, in particular renewable energy projects in Mexico, such as photovoltaic plants and wind farms. 

EIB Vice-President, Rom?n Escolano, is in Mexico to meet with the Mexican Government, in particular the Ministries of Finance, Energy and Transport, NAFIN, as well as Banobras, and Bancomext. During his visit, Vice-President Escolano will also meet the Head of the EU Delegation in Mexico City and representatives of other International and European Financial Institutions (IADB, WB, CAF, KfW and AFD) to discuss joint collaboration opportunities in Mexico.

Roman Escolano, European Investment Bank Vice-President responsible inter alia for operations in Latin America said: “This Memorandum of Understanding is the first step in a promising partnership between the EIB and NAFIN, targeting new joint investment opportunities in Mexico. By developing a knowledge sharing mechanism and establishing regular high-level consultations, we will be able to work efficiently on strategically important projects. During my meetings with the Mexican Government and three development banks this week, we will identify new areas of cooperation which will benefit Mexico and its population. At the EIB we are very committed to increasing our activity and enhancing cooperation in Mexico.”

Jacques Rogozinski, General Director of NAFIN said: "The signature of this Memorandum of Understanding with the EIB represents a great opportunity to promote collaboration between both institutions, mainly in a topic that has become of special relevance to NAFIN: sustainable development. Working together with the EIB in renewable energy projects, and sharing experiences and best practices on this area, will allow NAFIN to support the Federal Government’s climate change goals and international commitments. I am confident that this partnership will help us further NAFIN’s green financing strategy and efforts, and that the results will be of great benefit to the country".