Tuesday, August 9, 2022

IFC extends $200 million loan to BBVA in Colombia to support green finance

IFC’s financial package will support the bank’s loan program for climate-smart projects, with a focus on green buildings and construction. In addition, it will increase funding for other climate-smart projects in all sectors, including agriculture, housing and renewable energy. IFC’s support will help reduce the country’s CO2 emissions: 7,184 tons per year between 2022 and 2027, plus whatever accumulates after that.

This is the first loan backed by the UK Green Building Market Accelerator Scheme (MAGC), sponsored by the UK Department for Business, Energy and Industrial Strategy, which aims to encourage financial intermediaries to develop new financing products for green To expand the markets for green construction. Construction in Colombia.

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The program will support the expansion of certified green buildings with the Advanced Excellence in Design for Greater Efficiency (EDGE) certification, a global green building certification system. Advanced certification is awarded to buildings with an energy savings of at least 40 percent, compared to a 20 percent savings for Standard Edge certification.

Nation World News Desk
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