Clean development projects.

SEMARNAT Minister Jose Luis Luege Tamargo and the vice governor of the Japanese Bank for International Cooperation (JBIC), Yoshihiko Morita, agreed in Tokyo to increase efforts to develop projects that meet the dual objectives of combating the impacts of climate change and to achieve a higher level of sustainable development in Mexico.

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The meeting was part of Mexico's efforts to comply with the terms of the Cooperation Agreement related to the Clean Development Mechanism (CDM) signed with JBIC in April, 2004. In addition, a specific financial structure will be developed to jointly fund CDM projects utilizing the resources of Mexico's development banks (BANOBRAS, NAFIN and BANCOMEXT), the JBIC and the Japanese Carbon Fund.