Français
Joint Initiative
The International Finance Corporation (IFC) and the Japan International Cooperation Agency (JICA) have finalized a $400 million green financing package for BBVA in Peru. This partnership aims to support sustainable construction and energy efficiency projects in the country.
Progress and Funding
Initiated in June 2023 with an initial contribution of $150 million from the IFC, the project recently reached a significant milestone with the disbursement of an additional $250 million. JICA is set to co-finance $150 million of this amount.
Objectives and Implications
This financing aims to strengthen BBVA’s lending capacity for sustainable construction projects by providing guidance on obtaining environmental certifications and supporting the development of energy-efficient projects. Representatives from each organization have emphasized the importance of promoting sustainability in Peru.
Future Perspectives
The IFC estimates that green buildings represent a significant investment opportunity in emerging markets, with a potential of $24.7 trillion by 2030.
About the Actors
– BBVA: A global financial group committed to transitioning towards a greener and more sustainable world.
– JICA: The Japan International Cooperation Agency, working towards sustainable development in Peru and beyond.
– IFC: The largest global development institution focused on the private sector in emerging markets.
This collaboration will contribute to combating climate change and achieving sustainable development goals in Peru.
Sources : https://www.tradefinanceglobal.com/posts/ifc-and-jica-green-finance-trade-finance-global/
https://pressroom.ifc.org/all/pages/PressDetail.aspx?ID=28077
https://www.jica.go.jp/english/information/press/2023/20240125_31.html
