2024.03.21
On March 20, the Japan International Cooperation Agency (JICA) signed a loan agreement with Banco BBVA Perú S.A. (BBVA Peru) of the Republic of Peru for up to US$150 million for a project to promote green financing that supports the introduction of green buildings (Note) that meet international standards, as well as energy-saving facilities and equipment. The project will be co-financed by the International Finance Corporation (IFC).
Peru’s long period of strong economic growth has led to a significant increase in energy consumption and greenhouse gas emissions. In particular, in the building sector, where energy consumption is high, the Peruvian government has been therefore promoting sustainable housing and construction through the provision of low-interest loans and subsidies. However, there is still believed to be plenty of room for the introduction of green buildings going forward.
Signing ceremony
BBVA Peru is a leading commercial bank with approximately 300 offices in the country and has been a pioneer in expanding green financing, including issuing the first green loan in both Peru and South America as a whole in 2018. By providing a long-term loan to BBVA Peru, this project will promote the spread of green financing for green buildings as well as energy-efficient facilities and equipment throughout Peru, helping to reduce energy consumption and improve efficiency. In doing so, the project will contribute to the country's efforts to combat climate change, as well as to the achievement of SDGs Goals 8 (Decent work and economic growth), 13 (Climate action), and 17 (Partnerships for the goals).
(Note) Buildings with high environmental performance that take into consideration the reduction of energy and water consumption throughout their construction and usage.
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