Mexico City.- The Trusts Established in Relation to Agriculture (FIRA) placed two green bonds for an amount of 8 thousand 500 million pesos through two issues in the Mexican Stock Exchange (BMV).
Thus, with the 3-year Green Resilience Bond (FEFA 23V), at a rate of the Interbank Equilibrium Interest Rate (TIIE) plus 30 points, 2,985 million pesos were collected, while with the FEFA 23 bond, After 1.5 years, 5 thousand 515 million pesos were collected.
According to FIRA, the resources will be used to promote investment in productive projects that can improve the resilience of producers and value chains in the agricultural and rural sectors to reduce the risk of climate change.
With the resources obtained, work will be done with the French Development Agency and GGGI, to address the 88 technologies identified by FIRA to help producers resist the effects of climate change.
Through a statement, Jesús Alan Elizondo Flores, general director of FIRA, highlighted the importance for the primary and financial sectors of committing to projects with an environmental focus.
“There is a very relevant trend in the financial market that is not reversible and that is, financing projects that include environmental and social responsibility mechanisms, as is the case with this instrument, the Green Bond for Adaptation and Resilience.”
FIRA has already dedicated three green bonds that seek to mitigate the effects of climate change, but one direction that had not been addressed is how climate change has been affecting our producers with climate variations,” he said.
For his part, Marcos Martínez Gavica, president of the Board of Directors of the BMV Group, considered that FIRA is an example of support for the livestock sector for almost 70 years through institutional financing, since they have issued different instruments on the Mexican Stock Exchange in 176 times, raising more than 150 billion pesos for 11 years.
“With the Green Resilience Bond, this year FIRA is positioned as the issuer of the most diversified thematic bonds within development banking,” the BMV noted in its document.
It should be remembered that this issuance contributes to the goal committed by FIRA to the Good Food Finance Network in the framework of the last Conference of the Parties, to reach a total amount of financing in adaptation and resilience projects to climate change of 24 billion pesos by 2025 and 73 billion in 2030.
