The Inter-American Development Bank has committed to bring its lending for renewable energy and climate change-related projects to USD3 billion by 2012. That is double the volume in 2010 at USD1.5 billion.
IDB President Luis Alberto Moreno unveiled the plan during a summit of energy ministers of the Americas at the bank’s headquarters in Washington. He said the twofold increase in clean energy lending is made possible through the decision by the bank’s board of governors to boost IDB’s capital by USD70 billion in March.