Region gets US$3B to support renewable energy efforts

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NASSAU, Bahamas, Tuesday April 12, 2016 – Japan and the Inter-American Development Bank (IDB) are partnering to invest US$3 billion in Latin America and the Caribbean to support renewable energy and energy efficiency projects, as well as quality infrastructure projects related to energy savings.

The agreement between the IDB and the Japan International Cooperation Agency (JICA) expands on the Co-financing for Renewable Energy and Energy Efficiency (CORE) programme, which was created in 2012 to support energy investments to mitigate climate change impacts in Central America and the Caribbean.

It will increase the target amount of JICA’s highly concessional loan window from US$1 billion to US$3 billion, and will extend the term of the programme until April 2021. This will also broaden CORE’s geographical reach, enabling partners to fund projects in all low-and middle- income IDB borrowing member countries, as well as more vulnerable Caribbean economies not previously covered by the programme.

Read more at: Caribbean360

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