EIB, IDB boost partnership

The European Investment Bank and the Inter-American Development Bank are providing more money to co-finance development projects in Latin America and the Caribbean. The two signed a USD118 million deal with the Central American Bank for Economic Integration and the Nicaraguan Government to rehabilitate hydroelectric power plants in the country. They are also collaborating with the Japan Bank for International Cooperation for the Panama City and Bay Sanitation project, which seeks to improve wastewater treatment in the area. Both agencies are now looking at jointly lending to smaller and lower income nations on efforts to mitigate climate change, and to private-sector initiatives focusing on renewable energy sources, energy efficiency and mass transport. (Press release: EU-LAC: EIB & IDB to increase co-financing in Latin America, with special emphasis on climate change mitigation/Inter-American Development Bank)

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