Tailored course targets Latin American and the Caribbean financial intermediaries’ identification and origination of environmentally-friendly projects eligible for IDB Green Credit Lines
The Inter-American Development Bank (IDB) launched the course “Eligibility Criteria for Green Credit Lines” with the goal of supporting financial intermediary (FIs) employees to determine and execute environmental projects in compliance with IDB Green Credit Lines.
This unique course, accessible through the Inter-American Institute for Economic and Social Development (INDES) website, contains four user-friendly modules in Spanish and English that offer the know-how and tools to determine if a project relates to climate change mitigation and if a portfolio of such projects meets the requirements of IDB Green Credit Lines.
“With more than five years of experience working with green lines, the IDB recognizes that one of the main barriers that banks face to finance environmental projects is the capacity to identify credit worthy projects with a positive environmental impact, for example, emissions reductions or the production of renewable energy. This online tool will fill the knowledge gap and establish concrete mechanisms to screen and measure the environmental benefits of projects,” said Diego Flaiban, Senior Financial Institutions Officer.
The course arose from the planetBanking pillar of Structured and Corporate Finance Department’s (SCF) beyondBanking program and was implemented in conjunction with the Knowledge and Learning Department (KNL) of the IDB. The one-of-a-kind course will raise awareness and build capacity in FIs to execute projects that contribute to economic growth, innovation and climate change mitigation.
About Green Credit Lines
The IDB’s Green Credit Lines include loans and guarantees for financial intermediaries in Latin America and the Caribbean aimed at promoting a portfolio of environmentally-friendly subloans that have a reduced ecological footprint. Among the priority sectors are renewable energy; biomass; energy efficiency; sustainable tourism, transportation, buildings, forestry and agriculture; cleaner production and biomass.
About beyondBanking and planetBanking
The Inter-American Development Bank?s Structured and Corporate Finance Department, through its Financial Markets Division (FMK), developed the “beyondBanking program: Banking on Global Sustainability” in order to promote principles of environmental, social and corporate governance sustainability in financial intermediaries in Latin America and the Caribbean.
Through planetBanking, one of beyondBanking’s pillars, the IDB seeks to promote the development of “green” initiatives and financial products in FIs in the region so that they can meet the growing private sector demand for climate change-related financing.