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Latin American development bank CAF said Wednesday that it picked up a EUR200 million ($216 million) green line of credit from French counterpart AFD to lend on to biodiversity and climate adaptation projects in the region.
The financing comes with an additional EUR500,000 in funds for technical assistance in this green transformation, CAF said in a press release.
The credit line will allow CAF “to reorient its financing flows toward inclusive projects aimed at mitigating and attenuating climate change, as well as protecting biodiversity,” said Marie-Pierre Bourzai, director of AFD’s Latin America department. “This project contributes to improving the practices and strategy of our partner so that it becomes the first green bank in the region.”
Ignacio Corlazzoli, CAF’s manager of resource mobilization and global alliances, said the financing and technical assistance will help it in its ambition “to improve the quality of life of people, animals, flora, fauna and the planet in general.”
This is the third such credit line that AFD has awarded and its first in Latin America and the Caribbean.