The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH and the Inter-American Development Bank (IDB) have signed a cooperation agreement for the multi-sector forum México Laboratory for Financial Innovation (LAB) to strengthen the activities of the forum for the promotion of climate finance.

The “LAB” is the innovation laboratory dialogue between financial and capital markets to structure and identify ways to implement innovative green and sustainable financial instruments and to promote sustainable best practices for capital markets in the region, in collaboration with development banks and state development agencies, among other actors.

For the LAB’s Distributed Generation Financing Roadmap, workshops have been held in which more than 180 representatives from financial institutions, commercial and development banks, and distributed solar generation development companies have participated.

The LAB seeks to support national development banks, private banks and other actors in the Mexican financial sector to promote debate and the exchange of experiences towards the development of financial innovations that support the sustainable development of Mexico.

Based on the agreement, the entities are committed to sharing progress on issues of mutual interest, such as the results of relevant initiatives and studies to nurture debate and exchange of experiences in the field of green finance between institutions and sectors of the platform, as well as the next steps for the cooperation.

The signature took place at the virtual Forum “Green and Inclusive Financing” on November 19th, with the aim of presenting the cooperation between GIZ and IDB at the multi-sectoral forum “Financial Innovation Laboratory Mexico”.

The Green and Inclusive Financing Forum organized by GIZ Mexico is a national, regional and international event that aims to
• Present the actions that GIZ Mexico has carried out and is currently carrying out with implementing partners and counterparts from the public and private sectors in the field of Sustainable Financing
• Generate a venue for meeting and dialogue between key actors on progress, trends, and possible synergies for the mobilization of financial resources to facilitate a green and inclusive recovery

The session was broadcasted live on various digital media channels, including social networks, YouTube and the event website.

The agreement signature event was attended by
• Roberto Manrique, IDB Representative in Mexico, IDB
• Marita Brömmelmeier, Resident Director, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH Mexico
• Enrique Nieto, Lead Financial Markets Specialist, IDB
• Joscha Rosenbusch, Energy Cluster Coordinator, GIZ Mexico
And was moderated by Lishey Lavariega, Technical Advisor – GIZ Mexico