The Inter-American Development Bank and Japan International Cooperation Agency have agreed to jointly back renewable energy and energy efficiency projects in Latin America and the Caribbean.
IDB and JICA will set up a new cofinancing framework to help promote renewable energy and energy efficiency in Central America and the Caribbean. JICA will provide loans of as much as USD300 million over the next five years under the framework.
JICA will also boost its support for the bank’s Energy Innovation Center. A joint effort with the U.S. Energy Department, the center aims to promote cooperation, resource mobilization and knowledge dissemination in the energy sector. A JICA technical specialist will serve in the center.