The facility will support investments involving energy efficiency, renewable energy, water and wastewater treatment, waste management and other carbon-mitigating projects.
“This agreement is an endorsement of Banco General’s partnership with IDB, as well as of our commitment to support environmentally and socially responsible businesses in Panama,” said Banco General Executive Vice President, Finance, Francisco Sierra.
The operation reflects a key priority of beyondBanking, a new IDB program that promotes sustainable banking principles in Latin America and the Caribbean. The program’s planetBanking projects seek to help financial institutions reduce their direct and indirect environmental footprints.
“Through planetBanking we aim to build up a track record of climate change-related initiatives with financial institutions in the region. In this case, the IDB will provide Banco General both technical and financial support to develop and implement innovative financial products to promote climate change investments in Panama,” said IDB Financial Markets Division Chief Daniela Carrera-Marquis.
Source: Inter-American Development Bank
More on this topic
July 2011
The entity has received a $20 million IDB loan to expand its loan portfolio to operations with environmental sustainability.
The Inter-American Development Bank today announced the approval of a "green" facility with $30 million going to Banco Atlantida in Honduras to support lending to environmentally sustainable projects.
September 2010
$15 million IDB loan is the first to a Costa Rican financial institution that seeks to expand its mortgage and green financing business
The Inter-American Development Bank (IDB) approved a $15 million loan to Banco Promerica de Costa Rica to help the bank expand its long-term mortgage operations and loans for environmentally sustainable projects.
September 2010
Investments will target cities in central and western provinces, along with low-income suburban communities near Panama City.
Panama will expand coverage and improve the quality of water supply services and sewer systems in cities near its capital and in its central and western provinces with a $40 million loan approved by the Inter-American Development Bank.
March 2012
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.
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