Dec. 6 (Bloomberg) — Germany and the U.K. started a 70 million-euro ($90.8 million) fund to finance projects in developing countries that cut emissions and curb climate change.

The Nationally Appropriate Mitigation Actions facility, or Nama, will support projects or policies that help reduce emissions from technologies or industries, Britain’s Department of Energy and Climate Change said in a statement on its website.

The first project to benefit is a Mexican government program to build sustainable housing, today’s statement shows. The financing facility will provide grant funding and loans.

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