•A $20 million import finance facility will strengthen electric vehicles’ supply chain in both countries.
WASHINGTON - IDB Invest is partnering with the Kaufmann Group to launch a $20 million revolving import finance facility to accelerate the introduction of electric vehicles and plug-in hybrid vehicles, including charging infrastructure and related equipment in Perú and Costa Rica, opening the door to cleaner, more sustainable transport options.
The project, which will be implemented by Kaufmann Group's subsidiaries Autostar Vehículos S.A. in Costa Rica and Diveimport S.A. in Peru, will contribute to cleaner cities, stronger energy security, and more resilient transport systems - aligned with both countries’ climate commitments and powered by their predominantly renewable electricity grids.
Structured as a senior secured, uncommitted revolving facility, the financing is split into two tranches of up to $10 million each, with repayment terms of up to 390 days and availability for up to four years, extendable for additional periods.
Beyond financing, IDB Invest will provide technical assistance for an in-depth market study on electromobility in Peru and Costa Rica. This research will map out short- and medium-term opportunities to speed up electric vehicles adoption and design strategies for integrating electric mobility more effectively into local transport systems.
About IDB Invest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $22 billion in assets under management and more than 440 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries. Visit our website: www.idbinvest.org/en.
About the Kaufmann Group
The Kaufmann Group is one of Latin America’s leading companies in the transportation and mobility industry, representing Mercedes-Benz and other renowned global brands. Founded in Chile over 70 years ago, the company has built a solid reputation for its customer-centric approach, technical excellence, and commitment to innovation and sustainability.