News

IDB Finances Sustainable Energy Matrix in Peru

IDB21 July 2011: The Inter-American Development Bank (IDB) approved the third portion of a programmatic policy-based loan to develop Peru's sustainable energy matrix.

The US$25 million loan will be used to continue programmes within the energy sector, for example, to: promote the use of renewable energy and energy efficiency; improve inter-institutional coordination; update the national energy balance; support the inclusion of biofuels in commercial fuel mixes; and implement the National Agricultural Energy Plan. The IDB loan is granted for a 20-year term, with a five-year grace period and an interest rate based on LIBOR. [IDB Press Release]