Promoting Risk Mitigation instruments and finance for RE and EE instruments (GCF-FP064)

Countries
  • Argentina
Where the impacts of the investment may be experienced.
Financial Institutions
  • Green Climate Fund (GCF)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 1, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Argentina
The holder of the loan, grant, or other investment.
Investment Type(s)
Grant, Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 103.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Grant Amount (USD)
$ 3.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 163.85 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ GCF website

Updated in EWS Jun 24, 2018


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

The proposed Project aims at mobilizing concessional finance from the Green Climate Fund (GCF) to promote the efficiency in the production and use of energy in Argentina, in order to contribute to the reduction of greenhouse gas (GHG) emissions and the creation of a more conductive financing environment for investing in sustainable energy (SE) projects in the long term. GCF reimbursable resources will be channeled through a sovereign loan to the Republic of Argentina and will be executed by the Banco de Inversión y Comercio Exterior S.A.(BICE)3 , Argentina’s national development bank (NDB), and blended with BICE’s own resources to provide financing at adequate terms and conditions for small and medium enterprise (SME) 4 sub-projects in specific SE technologies (biomass, biogas and energy efficiency). 

Investment Description
  • Green Climate Fund (GCF)
Private Actors
Contact Information

For more information about this project, contact: 

Gloria Visconti, Climate Change Lead Specialist, Climate Change and Sustainability Division: GLORIAV@iadb.org; +1 202-623-3360 ; 1300 New York Avenue, N.W., Washington, D.C. 20577, USA

Maria Netto, Lead Financial Markets Specialist, Capital Markets and Financial Institutions Division: MNETTO@iadb.org; +1 202-623-2009; 1300 New York Avenue, N.W., Washington, D.C. 20577, USA

ACCOUNTABILITY MECHANISM OF GREEN CLIMATE FUND

The Independent Redress Mechanism (IRM) is the independent complaint mechanism for a person or people who have been or believe they are likely to be adversely affected by a project or programme funded by the Green Climate Fund. If you submit a complaint to the IRM, it may seek to address the issues raised by facilitating a problem-solving dialogue or, if that is not possible, conducting an independent investigation into whether the GCF has complied with its environmental and social policies. The IRM is newly created and is still in the process of developing its procedures and website. More information about the IRM and how you can file a complaint is forthcoming. You can contact the IRM at irm@gcfund.org.