US, MEXICO TO SIGN ENVIRONMENT LOAN

US, MEXICO TO SIGN ENVIRONMENT LOAN

The United States and Mexico will sign a deal for a $2 billion loan to finance the Border Environment Fund.

Mexico's commerce agency, Secretaria de Comercio y Fomento Industrial (Secofi), announced Tuesday that the two nations will sign an agreement soon to create a funding mechanism for shoring up the common frontier.The Border Environment Fund will be financed through loans from the Inter- American Development Bank and the World Bank, a Secofi statement said.

Secofi officials also announced that they have reached agreement on final wording for the creation of the Frontier Ecological Commission of Cooperation, which Commerce Secretary Jaime Serra Puche verbally agreed to on Aug. 12.

The agency statement did not give a date for when the environmental funding agreement will be signed.