The Nordic Investment Bank has provided a loan of $50m to the Inter-American Investment Corp (IIC) for renewable energy projects in Latin America.
At least 70% of the loan will be dedicated to renewable energy generation, including hydropower, wind power and biomass projects in any country where the IIC is active. The remaining 30% will be allocated to energy efficiency measures.
The loan programme will be co-ordinated with existing climate change programmes developed by the IIC and the Nordic Development Fund.
“The loan will strengthen our financing of Latin American and Caribbean SME’ energy efficiency and renewable energy projects,” said Jacques Rogozinski, general manager of the IIC.