JBIC, IDB Boost Joint Climate Efforts

A solar plant in Barcelona. Facilities like these in Latin America and the Caribbean may be funded under a new cofinancing partnership between the Inter-American Development Bank and Japan Bank for International Cooperation. Photo by: Andrius Baranauskas / CC BY-NC Andrius BaranauskasCC BY-NC

The Inter-American Development Bank and Japan Bank for International Cooperation have signed a memorandum of understanding to improve their cooperation in reducing greenhouse gas emissions in Latin America and the Caribbean.

The two institutions will expand JBIC’s Global Action for Reconciling Economic Growth and Environmental Preservation, or GREEN, which aims to fight global warming. IDB and JBIC will establish the JBIC-IDB GREEN Cofinancing Framework to support the development of photovoltaic generation facilities and highly energy-efficient power plants, as well as other projects that mitigate adverse impacts of climate change.

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.