CAF receives line of credit for up to USD 100 million to promote the development of "green projects" in Latin America
This is the second line of credit that the Japan Bank for International Cooperation (JBIC) grants the Institution, to promote projects aimed at reducing the carbon footprint in sectors such as energy, transportation, and infrastructure, among others.
With the purpose of providing more resources to contribute to a long-term and sustainable solution regarding energy, CAF, Development Bank of Latin America, obtained a line of credit for up to USD 100 million aimed exclusively at "green" projects, from the Japan Bank for International Cooperation (JBIC), Sumitomo Mitsui Banking Corporation, and the Hachijuni Bank.
This is the second line of credit aimed at financing "green" projects in Latin America (those that can show they have reduced CO2 emissions), such as energy efficiency and renewable energies, basic water and sanitation initiatives, transportation, and infrastructure, among others, whose objectives include the reduction of greenhouse gasses as agreed in the Paris COP21 last December.
Enrique García, CAF's Executive President, stated, "The development of projects that are friendly with the environment in Latin America will help overcome the problems that we currently have as a result of the impact of climate change. At CAF we make all the necessary efforts to finance initiatives that offer comprehensive long-term solutions that improve the region's competitiveness through operations such as the ones we carried out with the JBIC".
The General Manager of JBIC, Koichi Yajima, highlighted after the signature of the contract signed with Enrique Garcia, that this operation consolidates the forty years cooperative relationship with CAF, through the provision of loans for infrastructure projects, as well as to modernize the machinery and equipment, promote industrial investments, and also exports in the region.
This loan is an addition to the support of Japanese investors, who in January of this year participated in the placement of "water" bonds aimed exclusively at financing diverse projects related with this vital resource, such as supply, sanitation, treatment of residual waters, and irrigation in Latin America and the Caribbean.
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