The proposed investment consists of a subordinated loan of up to US$25 million to Banco Interamericano de Finanzas (BanBif or the Bank). The purpose of the proposed investment is to (i) jump-start and strengthen its green finance portfolio and (ii) strengthen the Bank's regulatory capital base to support its growth.
IFC anticipates that the Project will increase access to climate finance, including energy efficiency and green building projects that would enable businesses to improve their environmental footprint. The Project is expected to contribute to GHGs reduction and improve air quality by providing financing for green buildings and green projects.
Beyond the project-level impact, IFC anticipates that the project will promote competitiveness in the financial and real estate markets. In addition, given the moderately developed state of the climate finance market in Peru, IFC’s engagement will build capacity and set standards, using tools to assess eligibility and track environmental impact.
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