The Inter-American Development Bank (IDB) has signed a co-financing agreement with the Japan International Cooperation Agency (JICA) to make funds available for green energy development in the Caribbean and Central America:
The Inter-American Development Bank (IDB) and the Japan International Cooperation Agency (JICA) will provide up to $600 million in financing for renewable energy and energy efficiency projects in Central America and the Caribbean over the next five years.
The framework agreement was signed during the IDB’s annual meeting today between IDB President Luis Alberto Moreno and JICA Senior Special Advisor Hiroto Arakawa. The financing will benefit IDB member countries that already are eligible for JICA financing: Belize, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Guyana, Honduras, Jamaica, Nicaragua, Panama and Suriname.
“For more than 30 years, Japan has been a great partner of the IDB and, in particular, of our borrowing member countries,’’ said Moreno. “This agreement is another example of Japan’s efforts to help our region overcome key development challenges. This contribution, in addition to encouraging the adoption of climate-friendly energy investments, will support much needed mitigation measures to address the negative impacts of climate change among our most vulnerable nations in Central America and the Caribbean.”