The Minister of Economy and Finance seeks to get some nations to imitate the credit granted to Uruguay by the World Bank.
The Minister of Economy and Finance, Azucena Arbeleche, called on developed countries to move forward with concessional financing for those governments that comply with certain climate requirements, in line with the innovative loan granted by the world Bank to Uruguay Some weeks ago.
Arbeleche He also defended the launch of the Bond Indexed to Climate Change Indicators, considering that this instrument “demonstrated the political determination and commitment” of the government headed by the president Luis Lacalle Pou “to advance the environmental agenda” and the development of renewable energy.
The leader expressed herself this way when speaking at the panel “Promoting change: Brazil, Chile and Uruguay, pioneers in climate financing for global transformation”, during COP28 taking place in Dubai, event in which he participated together with the Secretary of Climate Change, Brazilian Ministry of Environment and Climate Change, Ana Toni; and the director of the Chilean Green Hydrogen Industrial Committee, Ana María Ruiz.
In this context, he highlighted the approval of the loan by the World Bank, about which he indicated that “it could mean savings of more than 12 million dollars” for the country and highlighted that this money “will be channeled to a fund that will finance intelligent agricultural projects.”
The leader proposed that this strategy be imitated by other actors. “We are fighting to have the possibility for developed countries to finance the granting of interest payments,” he said, indicating that “it is an interesting opportunity” for the central nations.
The green bonus and sustainability in agriculture
On the other hand, the owner of the MEF He remembered the course of the green bonus, launched in October 2022 and which was pioneering. To achieve that milestone, Arbeleche He assessed that there is “enormous coordination between the ministries of Livestock, Industry, Environment, Foreign Affairs and Economy” and noted: “A new governance was established and the instrument demonstrated the political determination and commitment of Uruguay to advance the environmental agenda.
By highlighting the government’s intention to advance in sustainable matters, he recalled that the world Bank chose “methane reduction” as an indicator and analyzed: “Livestock and agriculture really are the basis of our economic structure and three quarters of our emissions come from methane and agriculture”.
“It is a challenge, but we want to show the world that a country that produces food for everyone can do so in a more productive and sustainable way,” he highlighted. Arbeleche and concluded: “We hope this is replicated worldwide.”
Source: Ambito
