IDB and Nordic Development Fund Support Green Microfinance
18 October 2011: The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, has partnered with the Nordic Development Fund to launch a US$7 million programme to fund pilot microfinance activities for mitigation and adaptation to climate change in Latin America and the Caribbean.
The four-year project, known as the “Ecomicro Program,” will provide training to microfinance institutions to: develop sustainable green finance instruments; adjust their risk management models to include climate change risk; and incorporate climate impact into their internal policies and operations. The programme aims to increase access to clean energy, energy efficiency technology and adaptation products to micro, small and medium-sized companies. [IDB Press Release]