Joint support with JBIC for climate change projects in Latin America

(Calgary, March 29, 2011) .- During the IDB Annual Meeting in the Canadian city of Calgary, Enrique Garcia, president & CEO of CAF - Latin American development bank - and Yoshihiko Morita, deputy governor of JBIC, signed a US$300 million loan agreement to back energy projects which guarantee reduction of greenhouse gases in the 18 shareholders of the Latin American financial institution.

The facility was granted with the participation of the Japanese financial institutions Mizuho and Bank of Tokyo-Mitsubishi.

"For CAF it is important to play its catalytic role and attract additional funds to promote Latin American development," García said. "The Green Facility, set up by JBIC, reconciles economic growth and environmental preservation, in line with the CAF mission of promoting development on our continent under criteria of sustainability and stimulating actions to prevent or mitigate the effects of climate change."

CAF began its relations with Exim Bank Japan (now JBIC) in 1975. Since then, seven loan agreements have been signed. All the funds have been allocated to projects which support the development agenda promoted by CAF in Latin America.