Grants and Contributions:

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Title:

Canadian Climate Fund for the Private Sector in the Americas II

Agreement Number:

7404873 P002486001

Agreement Value:

$223,500,000.00

Agreement Date:

Mar 19, 2019 - Mar 31, 2044

Description:

The Canadian Climate Fund for the Private Sector in the Americas II (the Fund) aims to catalyze private sector investments in climate change mitigation and adaptation across the Latin America and Caribbean region, while promoting gender-responsive, sustainable economic development. The Fund is managed by the Inter-American Development Bank (IDB) and implemented by the Inter-American Investment Corporation (IDB Invest), which together are referred to as the IDB Group. The Fund co-finances the IDB Group’s private sector climate mitigation and adaptation projects in Latin America and the Caribbean that need concessional financing to be viable. It offers lower-cost, longer-term and higher-risk loans when they are needed to jump-start a project. Projects supported by the Fund may include renewable energy, energy efficiency, agriculture, forestry, greenhouse-gas emission reduction projects, as well as adaptation projects to reduce climate change vulnerabilities. This project aims to help developing countries transition to low-carbon, sustainable and resilient economies.

Organization:

Global Affairs Canada

Expected Results:

The expected outcomes for this project include: (1) the reduction of greenhouse gas emissions; (2) reduced vulnerability of businesses, communities, livelihoods and infrastructure to the adverse effects of climate change; and (3) enhanced participation by women in climate mitigation and adaptation-relevant sector or activities.

Location:

Washington, US

Reference Number:

064-2018-2019-Q4-00272

Agreement Type:

Contribution

Report Type:

Grants and Contributions

Recipient Type:

Not-for-profit organization or charity

Recipient's Legal Name:

IDB - Inter-American Development Bank

Program:

International Development Assistance Program

Program Purpose:

The main purpose on the International Development Assistance Program is to reduce poverty for those living in countries where Global Affairs Canada engages in international development.