Denmark expands its global climate efforts with a new guarantee to the Inter-American Development Bank (IDB) to provide renewable energy to the Amazon and Central America.
The USD 100 million guarantee is issued by Impact Fund Denmark on behalf of the Danish state, where Denmark makes its credit rating available to the development bank so that it can provide more loans for renewable energy projects that would not otherwise be financed.
In addition to Impact Fund Denmark’s USD 100 million, Norway (Norad) and Sweden (Sida) each provide USD 50 million, so the total guarantee is USD 200 million.
USD 780 million in additional climate finance
The funds will go to solar energy, wind power, energy storage and electric transport in some of the world’s most energy-poor areas. With the guarantee, IDB can mobilise up to four times as much money, i.e. USD 780 million in new climate finance, while creating thousands of local jobs and improving energy access for hundreds of thousands of people. Impact Fund Denmark actively uses guarantees to create green investments and mobilise private capital for sustainable development.
External Communications Director
Thøger Kirk
+45 53 76 08 05
