IDB Loans Banco Atlántida US$25 Million for "Green" Credit

Honduras Weekly
The Inter-American Development Bank (IDB) yesterday approved a US$25 million credit facility to Banco Atlántida of Honduras to allow the commercial bank to expand its loan portfolio for environmentally-friendly projects, such as renewable energy, energy efficiency, and biofuels. "The IDB expects to strengthen its support for Honduras through this new green line of credit, moving forward with its efforts to serve key economic sectors in our development strategy," said Daniela Carrera-Marquis, who heads the IDB's Financial Markets Division. "Besides generating important environmental benefits, this investment will increase the availability of financing in the medium- and long-term for small and medium corporate clients, who are the engines for creating employment in Honduras." As part of credit arrangement, the IDB will assist Banco Atlántida to develop criteria for green loan eligibility in order to establish a process for identification, selection, and monitoring of sustainable projects. (7/29/11)