The Government of Uruguay agreed to an innovative multilateral loan worldwide

The Government of Uruguay and the World Bank agreed on the terms of a multilateral Loan Contract that, for the first time, will reward compliance with climate objectives associated with the commitments assumed in the Paris Agreement with a significant reduction in the interest rate. This loan includes a financial mechanism that enables a discount in the interest rate if the objectives of reducing the intensity of methane emissions in beef production are exceeded by one percentage point, with respect to Uruguay's commitments to the Paris Agreement.