Ecobreves – MEXICO: IDB Finances Green Business Competitiveness

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MEXICO CITY, Sep 24 2012 (IPS) - Some 3,000 micro, small and medium-sized enterprises in Mexico will receive financing to make their production more sustainable. These companies “are often unable to capitalize on the benefits of environmental management systems, lack guidelines and support, and use inappropriate technologies,” Nancy Lee, the general manager of the Inter-American Development Bank’s Multilateral Investment Fund (MIF), told Tierramérica.

MIF will provide 4.3 million dollars over the course of four years to a pilot program aimed at improving competitiveness through sustainable practices.

Also involved in the initiative are the Technology Institute of Monterrey, the Mexican bank Banorte, the Femsa bottling company, and the Mexican branch of the U.S. retail chain Walmart.

Micro, small and medium-sized enterprises generate six out of every 10 jobs and contribute more than 60 percent of GDP in Mexico.