IADB, JICA agree to fund renewables in Central America, Caribbean

Mar 19, 2012 - The Inter-American Development Bank (IADB) and Japan International Cooperation Agency (JICA) signed a framework agreement on Friday to lend up to USD 600 million (EUR 460.8m) for renewable energy and energy efficiency projects in Central America and the Caribbean.
The financing, to be extended in the next five years, will benefit IADB member countries already eligible for JICA financing, namely Belize, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Guyana, Honduras, Jamaica, Nicaragua, Panama and Suriname.
Each project could receive joint or parallel co-financing. Under the first scheme, IADB will provide a sum equal to the JICA financing, while the other scheme implies that each entity will separately finance specific components of a project. JICA will provide USD 300 million which could mobilise up to USD 300 million from IADB.
(USD 1.0 = EUR 0.768)

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