News

• Over the past six months, the Board has approved US$144 million to support nine new environmental projects, including a battery energy storage system approved today

 Tecate, Baja California – The Board of Directors of the North American Development Bank (NADBank) held its first meeting of 2024 in the city of Tecate, Baja California, where various internal policies were reviewed and approved to enhance the operations of the Bank. Progress was also made in fine-tuning a proposed Water Investment Program (WIP). These actions are intended to allow the Bank to advance the implementation of its five-year strategic plan that went into effect in early 2024. The objective of the strategic plan is to support the development of the border region by increasing the number of impactful environmental infrastructure projects financed and growing its portfolio of development assets to US$1.5 billion over the next five years, as well as integrating knowledge and best practices into those projects. The priority is investments in water infrastructure and greener urban mobility that support the transition to a sustainable economy, advance the well-being of residents, and preserve, protect and enhance the environment in the U.S.-Mexico border region.

The Board also reviewed the activities of the Bank since its last meeting in November 2023, which included the approval by the Board of Directors of loans and grants totaling US$144.4 million dollars for nine new projects, including one approved during today’s meeting. These projects represent a total estimated investment of close to US$340 million dollars and are expected to benefit more than 2.5 million residents on both sides of the border. Of those projects, six are in the priority sector of water and wastewater in benefit of four communities in Mexico and two communities in the United States. The other projects include an air quality project focused on cleaner transportation in Tijuana, B.C, a border-wide sustainable housing project in Mexico and a battery energy storage system in Cameron County, Texas.

The Board also held a public meeting in hybrid format with the attendance of around 100 attendees representing communities on both sides of the U.S.-Mexico border, the private sector, project developers and non-government organizations. During this session, around 25 people participated both in person and online, with public comments related to environmental issues and the needs of their communities and the agencies they represented.

The NADBank Board of Directors is formed by 10 members, with the heads of U.S. Department of the Treasury, the U.S. Department of State and the U.S. Environmental Protection Agency for the United States and of the Ministry of Finance and Public Credit, the Ministry of Foreign Relations and the Ministry of Environment and Natural Resources on behalf of Mexico, as well as border state and resident representatives from both countries.

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NADBank is a financial institution established and capitalized in equal parts by the United States and Mexico for the purpose of financing environmental infrastructure projects along their common border. As a pioneer institution in its field, the Bank is working to develop environmentally and financially sustainable projects with broad community support in a framework of close cooperation and coordination between Mexico and the United States. For more information about NADBank, visit www.nadb.org.