The Green Climate Found (GCF) approved funding of USD 100 million to BICE for the financing of energy efficiency and renewable energy projects

February 28 2018

The Green Climate Fund (GCF) approved a financing to the country of USD 100 million for energy efficiency and renewable energy projects, especially biogas and biomass, which are promoted by small and medium-sized companies throughout the national territory.

The financing was approved today during the GFC board meeting held at its headquarters in Songdo, Republic of Korea, and will be channeled through the IDB, which is the entity accredited to the Fund to act as an intermediary.

The line will be strengthened with a contribution made by BICE of USD 60 million and it is expected that additionally, SMEs and private investors will mobilize resources for approximately USD 70 million. In addition, the loan includes USD 3 million more for non-reimbursable technical cooperation that will be used for research and technical training.

Source :
  • en