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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