The board of directors of the IDB group – which includes the bank and the Inter-American Investment Corporation (IIC) – approved a motion to increase lending for climate change needs to 30% of lending by 2020, which could mean $4bn a year in financing for the Latin American and Caribbean regions.
Separately, the IDB also announced that the Japan International Cooperation Agency (JICA) will triple current financing for renewable energy and power efficiency to $3bn under a co-financing agreement known as CORE.
CORE
