IADB loan to finance small renewable projects in Argentina

The Inter-American Development Bank (IADB) has agreed a $100 million loan to Argentina to increase small and medium-sized enterprise investments in renewable energy and energy efficiency. The loan will specifically finance small-sized renewable energy generation projects - mainly biogas and biomass - and efficiency improvements in industrial processes, including equipment replacement and cogeneration.

The project will be executed by the Banco de Inversión y Comercio Exterior (BICE), a public bank that grants medium- and long-term credit aimed at productive investment and foreign trade.

The IDB financing is for a 20-year term, with a 5.5-year grace period and a 0.75 fixed interest rate.