NIB opens loan facility with Inter-American Investment Corporation

NIB has provided a loan of USD 50 million to the Inter-American Investment Corporation (IIC) for on-lending to environmental projects in Latin America.

The allocation of projects under the loan programme will be based on the mutual interest of both NIB and the IIC, particularly in the field of climate change mitigation. At least 70% of the loan will be dedicated to renewable energy generation projects, including hydropower, wind power, certain type of biomass projects and Clean Development Mechanism projects, in any country where the IIC is active. The remaining 30% can further be allocated to energy efficiency measures.

The loan programme will be coordinated with existing climate change programmes developed by IIC and the Nordic Development Fund (NDF), thus providing a new platform for cooperation between NIB, the IIC and the NDF.

“The loan fits well with NIB’s strategy to cofinance with and lend through other IFIs, while enabling NIB to support environmental projects in countries beyond Brazil in the region,” says Johnny Åkerholm, President and CEO of Nordic Investment Bank.

“The USD 50 million loan from NIB will strengthen our financing of Latin American and Caribbean SMEs energy efficiency and renewable energy projects,” says Jacques Rogozinski, General Manager of the IIC.

The Nordic Investment Bank is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors for projects that strengthen competitiveness and enhance the environment. NIB has the highest possible credit rating, AAA/aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernisation of private enterprises, particularly those that are small and medium in size. It does so by providing financing and advisory services to private enterprises in Latin America and the Caribbean.

For further information, please contact

NIB

Nicolas Audibert, Senior Manager, Origination, tel. +358 10 618 0689,

Dimitrijs Alehins, Senior Communications Specialist, tel. +358 10 618 0296,

  

IIC

Juan Eduardo Zuluaga, Finance and Risk Management Division Chief, tel. +1 202 623 3812,

Sylvia Szankay, External Relations Officer, tel. +1 202 623 3878,