The Inter-American Development Bank has granted a loan that will be used to finance energy efficiency projects for small and medium-sized companies.
Friday, July 27, 2018
The funds for this loan come from the Green Climate Fund (GCF) and will be executed by the Development Bank of El Salvador (BANDESAL). The objective of the financing granted is to support the efforts being made by SMEs in El Salvador to reduce electricity consumption and limit greenhouse gas emissions, reported the Inter-American Development Bank (IDB).
The statement reports that "... This loan will benefit SMEs in all sectors of the economy that have no or limited access to long-term credit, which is essential for investing in energy efficiency. It is estimated that the program, BANDESAL's first line of credit exclusively dedicated to promoting investments in energy efficiency, could support 494 SMEs."
The document adds that "... El Salvadoris promoting energy efficiency and supporting renewable energies as a way of implementing a low carbon economy, alleviating national dependence on petroleum derivatives and mitigating greenhouse gas emissions."
The IDB financing has a term of 20 years, with a grace period of 5.5 years and a fixed interest rate of 0.75.
¿Busca soluciones de inteligencia comercial para su empresa?
Do you need more information about your business sector?
Request more information:
Your message has been sent. We will contact you shortly.
A bill is being prepared in El Salvador to reduce energy consumption in public entities, through replacement of equipment and new infrastructure.
At the beginning of next year, the Salvadoran Energy Council will be presenting a bill to the National Assembly, which will represent an investment of $70 million.
The Development Bank of El Salvador has a credit line for replacing equipment with more efficient technology in terms of energy consumption.
The Development Bank of El Salvador (BANDESAL) has $17 million available in a credit line to grant to companies who opt to renew their equipment and use technologies which lead to energy savings.
The IDB granted $660,000 to El Salvador and $600,000 to Guatemala to be managed by the Sustainable Energy and Climate Change Fund Initiative (Secci).
The Government of Guatemala will invest this money to develop an Integral Energy Efficiency Plan to reduce consumption and improve the use of electric energy in the country.
×
2145Government Procurement Opportunities in the region