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Colombia - Sustainable energy finance program : case study (English)

While Colombia possesses significant potential for energy efficiency savings in the industrial, commercial and residential sectors, increasing sustainable energy investments confront a number of barriers including: the absence of activities specifically targeted towards supporting sustainable energy efforts, and in particular the lack of a services market to support companies interested in using energy more efficiently such as energy service companies; lack of awareness among private enterprises as to the economic benefits of sustainable energy; and lack of available financing for such investments as a result of banks' perceived risks and their lack of capacity and experience with this asset class. This project aims to increase the available funding for energy efficiency projects in Colombia, through the provision of a risk sharing facility by International Finance Corporation (IFC) and Inter-American Development Bank (IDB) to Ban Colombia, to cover a portion of the losses of a sustainable energy portfolio and encourage the development of its sustainable energy lending business. This is the first large commercial financing project for sustainable energy finance in Colombia, and is part of the Clean Technology Fund (CTF) Colombia sustainable energy finance program to promote sustainable energy financing among local banks.

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Citation

Colombia - Sustainable energy finance program : case study (English). Renewable Energy Financial Instrument Tool (REFINe) ; Case study no. 34 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/517191468239998723/Colombia-Sustainable-energy-finance-program-case-study