The Inter-American Development Bank has announced it will support Colombia to diversify its energy matrix, focusing on renewable energy sources, with a USD 600m loan.
Renewables which will be integrated into Colombia’s energy mix will include wind, solar and biogas.
The loan will be used to implement policy reforms to ensure efficient electricity supply to Colombia’s National Interconnected System. The funds will also be used for increasing rural electrification through renewable energy, by providing access to electricity to Colombia’s Non-Connected Areas.
The loan has a 19-year term and an interest rate based on LIBOR. Colombia’s Ministry of Finance and Public Credit will be the executing agency.
