IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, signed a $20 million loan with Banco de la Producción, S.A. (Banpro), the largest bank in Nicaragua for total assets, loan portfolio and deposits. The financing is aimed at increasing the availability of credit for Banpro's Green Lines portfolio and supports Banpro’s strategy to increase its financing of sustainable technology.
With this financing, Banpro increases the financing of energy efficiency projects, renewable energy and climate-smart agriculture, among other initiatives that increase efficiency in the use of resources and reduce the risks associated with climate change. It offers a differentiated credit offer and financing of projects that are more efficient in the consumption of water, energy, C02 decrease and improvements in productive sectors.
In addition, direct support will be available to clients of Banpro in the performance of energy audits for the technical, economic and environmental evaluation of improvements in sustainability. The objective is to save and optimize energy consumption, with emphasis on the industrial, commercial and service sectors. To complement the accompaniment to the productive sectors of the country, a financial product aimed exclusively at the agricultural segment will be developed.
The operation will include a non-reimbursable technical cooperation component through which a training program aimed at clients and collaborators of the financial institution will be carried out. This will increase the identification and understanding of low-carbon projects or technologies.
About IDB Invest
IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting Latin America and Caribbean businesses. It finances sustainable enterprises and projects to achieve financial results that maximize economic, social and environmental development for the region. With a current portfolio of $11.2 billion under management and 330 clients in 23 countries, IDB Invest works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients. As of November 2017, IDB Invest is the trade name of the Inter-American Investment Corporation.