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Publish Date : 24-May-2013

IFC, a member of the World Bank Group, in partnership with the Clean Technology Fund, is helping Colombian financial institutions develop sustainable energy finance programs to support local companies that seek to fund energy efficiency upgrades, clean technology investments, and renewable energy projects.

In collaboration with the National Banking Association in Colombia (Asobancaria), IFC is hosting a conference in Bogota, Colombia for financial institutions to share their experiences in scaling up sustainable energy finance, and highlight the challenges and opportunities for further growth in the Colombian market. More than 100 representatives from financial institutions, private companies, international development organizations, and public sector agencies will attend the event on May 22, 2013.

"Sustainability represents a business opportunity, whether in providing a new service to customers, mitigating risks, or cutting costs. Increasingly, commercial financial institutions are differentiating themselves by offering new sustainable finance products," said Ghada Teima, IFC Access to Finance Manager for Latin America and the Caribbean. "As the market for sustainable energy in Colombia begins to grow, IFC has a role in helping local financial institutions develop technical skills and expertise in this area as well as alliances that can help build the market."

Participants at the conference will discuss how financial institutions can identify investment opportunities for clients seeking to finance energy efficiency, renewable energy, and cleaner production projects. Participants will also share examples of how financial products can be tailored to the investment needs of clients who want to to reduce their energy consumption and operate in ways that reduce negative impacts on the environment.

Over the past decade, IFC has played a critical role in helping develop markets for sustainable energy finance. IFC has supported more than 50 financial institutions across the world to develop programs tailored to their market needs, with the aim of helping countries shift to a low-carbon economic development path.

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