The program, which is reportedly the first line of credit exclusively dedicated to promoting energy efficiency investments, could support 494 SMEs.
El Salvador is promoting energy efficiency and supporting renewable energy as a way of implementing a low-carbon economy, reducing the country's dependence on oil derivatives and lowering its greenhouse gas emissions.
The IDB financing is for a 20-year term, with a 5.5-year grace period and a 0.75 fixed interest rate.
(Source: IDB, PR, 26 July, 2018) Contact: IDB, Juan Pablo Bonilla, Climate Change and Sustainability Sector Manager, Therese Turner-Jones, GM Caribbean Country Department, www.iadb.org
More Low-Carbon Energy News Inter-American Development Bank , Energy Efficiency,
The MDBs' latest joint report on climate financing said $27.9 billion -- 79 pct of the 2017 total -- was devoted to climate mitigation projects that aim to reduce harmful emissions and slow down global warming. The remaining 21 pct or $7.4 billion of financing for emerging and developing nations was invested in climate adaptation projects. In 2016, total MDB climate financing totaled US$27.4 billion.
The MDBs, which include the African Development Bank , the Asian Development Bank, the European Bank for Reconstruction and Development, the European Investment Bank , the Inter-American Development Bank Group (IDB and IDB Invest) and the World Bank Group (World Bank, IFC and MIGA), account for the vast majority of multilateral development finance. (Source: IDB, Caribbean Life, 23 June, 2018) Contact: IDB,
Juan Pablo Bonilla, Climate Change and Sustainability Sector Manager, Therese Turner-Jones, GM Caribbean Country Department, www.iadb.org
More Low-Carbon Energy News IDB, Climate Change, Climate Change Mitigation, Climate Finance,
The financing includes $30 million for comprehensive energy efficiency retrofits in 30 government-owned buildings and the installation of LED lighting in another 50 facilities. The improvements are expected to save approximately $7 million per in energy costs. The financing will also support energy planning and management and contribute to the government's energy efficiency improvement and energy diversification program as well as a universal transport management system.
The $40 million loan is being co-financed by the IDB, the Japan International Cooperation Agency (JICA), and the European Union Caribbean Investment Facility (EU-CIF). (Source: IDB , Caribbean News Now, 13 Nov., 2017) Contact: IDB, Therese Turner-Jones, GM Caribbean Country Department, www.iadb.org
More Low-Carbon Energy News Inter-American Development Bank,
The program, which is being funded by the Inter-American Development Bank (IDB) and the European Union (EU), includes upgrading approximately 30,000 street lights nationwide to energy efficient LEDs, greater energy efficiency measures and an increased reliance on renewable energy sources for the island's power needs.
The government aims to reduce the Bds$800 million ($400 million US) fuel import bill , 50 pct of which is used for power generation. It also aims to promote the generation of electricity from renewable energy sources and to allow independent power producers to supply electricity in addition to the Barbados Light and Power Company (BL&P). (Source: Gov. of Barbados, IPS, 27 July, 2017) Contact: Barbados Light & Power, Roger Blackman, www.blpc.com.bb
More Low-Carbon Energy News Energy Efficiency, LED Street Light, Barbados,