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IDB Supports Renewable Energy Matrix in Peru

IDB supports creation of new sustainable energy matrix in Peru

28 January 2009: The Inter-American Development Bank (IDB) will provide financial and technical support to the Government of Peru to support an integrated approach to developing conventional and renewable energy sources in order to contribute to climate change mitigation. A new energy matrix is the centerpiece of a package of measures Peru has agreed to carry out under a US$150 million programmatic policy-based loan approved by the IDB Board of Executive Directors on 28 January 2009.

Among other issues, Peru has committed to implementing specific measures that will maximize the benefits derived from hydrocarbons and renewable energy resources. The new energy programme is expected to promote energy conservation and efficiency, and foster the application of environmental and social safeguards in projects. It will also focus on better integrating Peru's primary energy sources and developing nontraditional renewable energy sources and bioenergy. [IDB Press Release]