October 5 (Renewables Now) - Latin American development bank Corporacion Andina de Fomento (CAF) may get USD 300 million (EUR 256m) from the European Investment Bank (EIB) for climate action projects in Latin America.
The framework loan is currently under appraisal by the EIB, pending approval by its board of directors, according to information released today on EIB's website.
EIB says that the financing will support investment projects that contribute to climate action, mainly in the renewable energy, transport and water sectors. The loan is eligible under its Climate Action and Environment Facility and is in line with its climate action lending targets.
The overall value of the project is about USD 600 million.
(USD 1 = EUR 0.852)