Latin America: Big credit line for development of geothermal energy from German bank

Germany’s Ministry for Economic Cooperation and Development (BMZ) and Development Bank of Latin America (CAF) signed an agreement to promote the development of energy projects in Colombia, Ecuador, Peru, Bolivia, Chile and Mexico.

The first credit line of €250 million (c. $286 million) will be allocated to lowering financing that CAF grants to geothermal projects in the region.

The second line of credit of €100 million will lower the interest rate that CAF offers to finance projects in urban transportation in the region, such as subways, buses and trains, among others.

Read more on CAF’s website.