IDB Invest lends USD 25m for green initiatives in Peru
Lima, Peru. Author: KaMpErƎ & Le-tticia.
IDB Invest has granted a USD-25-million (EUR 20.6m) subordinated loan to Peruvian bank BanBif to strengthen the lender's capacity to finance green projects and medium-sized businesses in the country.
The 12-year tenor loan will help BanBif provide terms and funds in accordance with the financing needs of renewable energy and energy efficiency projects, IDB Invest, the private sector arm of the Inter-American Development Bank (IDB), said on Wednesday.
The loan will also benefit Peru's medium-sized companies by allowing BanBif to make investments in more efficient technologies, which will help businesses increase productivity.
In addition to the loan, IDB Invest will also provide technical assistance to help the Peruvian bank develop the green financing development strategy for its most important sectors, according to the press release.