IDB Supports Lending for Green Projects in Latin America
23 June 2011: The Inter-American Development Bank (IDB) will lend US$50 million to the Portuguese financial institution Banco Espirito Santo de Investimento SA (BESI), which will in turn lend towards infrastructure, renewable energy and energy efficiency projects in Latin America.
Within IDB's beyondBanking initiative, the loan seeks to encourage private banks to lower their indirect carbon footprint through investments in environmentally-friendly projects. It forms part of IDB's efforts to fund green growth in Latin America and is expected to channel investments towards a diversified portfolio of infrastructure, agribusiness, renewable energy and energy efficiency projects in Latin America and the Caribbean. [IDB Press Release]