IDB Targets Clean Energy Initiative in Colombia With New $90M Financing Facility

The Inter-American Development Bank has approved a $90 million facility designed to support on-lending to clean energy, renewable energy and energy efficiency projects in Colombia through local financial institutions.

IDB’s first initiative through the facility is a risk-sharing deal with Bancolombia in collaboration with the Clean Technology Fund and International Finance Corp. The deal will allow Bancolombia to lend to small and medium-sized enterprises that seek to comply with higher environmental standards. Bancolombia will also receive technical assistance for internal capacity building, knowledge creation and energy efficiency audits.

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About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.