- Catalyst for Decarbonization: IFC’s $100M investment is part of a $600M package targeting Mexico’s 35% emissions reduction goal by 2030.
- Fleet Electrification Drive: Funding supports acquisition of BEVs, HEVs, PHEVs, and charging infrastructure for commercial fleets.
- Sustainability-Linked Incentives: Loan ties financing to environmental and gender inclusion benchmarks to foster impact and accountability.
The International Finance Corporation (IFC), part of the World Bank Group, has committed $100 million to Element Fleet Management Corporation to accelerate the transition to electric vehicles (EVs) in Mexico. This marks the first phase of a larger $600 million financing program designed to align with Mexico’s national climate and decarbonization targets.
