The European Investment Bank (EIB) has allocated $100 million to Peru’s development bank, Corporación Financiera de Desarrollo, to finance small businesses and climate action investment projects, primarily in the renewable energy and energy efficiency sectors.
The EIB loan will provide $30 million to small and medium-sized businesses, targeting companies impacted by current economic challenges.
The investment will also benefit from a €3.7 million ($4.5 million) EU Latin America Investment Facility which will help enable private investment in Peru’s sustainable energy sector.
“The existence of climate and environmental effects are a smoldering problem for Peru and the world,” said Diego Mellado, E.U. ambassador to Peru. “In this context, supporting sustainable projects, such as renewable energy or urban mobility or green housing, are essential to face these risks and these projects are also in line with other efforts such as the European Green Pact.
