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World Bank Stands Behind Mexico

15 January, 2015

The World Bank announced that it will loan $800 million dollars to Mexico to convert the public transport system to reduce emissions and to support various other programs according to the World Bank's president,Robert Zoellick. Of that amount,$450 million is earmarked for water and infrastructure programs as well as social programs. The additional $350 million ($200 million of which is coming from the Clean Technology Fund) will support the modernization of the public transport system across Mexico in order to reduce emissions and expand services. Zoellick wants to expand upon the widely accepted and environmentally friendly Metrobus system used extensively in Mexico City,which utilizes dedicated lanes as a great example of efforts being made for a cleaner environment here in Mexico.

"I think that climate change is too important to wait for one formal accord," Zoellick said in December,and "I prefer to look at this (climate change) as an area where we need to try to make progress where we can,when we can." He clearly is standing behind Mexico in this regard and even praised Mexico's economic recovery,slated to be 4.5% this year,during a Central American summit.