KfW is paving the way for climate-friendly technologies in Latin America

• KfW signs second climate agreement with Latin American development bank CAF amounting to EUR 150 million
• Up to EUR 6 billion for investments in renewable energies, industrial environmental protection and adaptation to climate change

Acting on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), KfW has signed a promotional loan worth EUR 150 million for Latin American development bank CAF (Banco de Desarollo de America Latina) for the second time (first loan in 2011 amounting to EUR 150 million). The new credit line promotes climate-friendly investments in the areas of renewable energies, industrial environmental protection and adaptation to climate change. CAF will pass on the funds as long-term financing as part of its climate programme at interest rates below its usual levels.

"The KfW funds create incentives for investments in climate-friendly technologies and make a considerable contribution to a switch to environmentally friendly infrastructure in Latin America. Furthermore, the investments totalling EUR 6 billion which this is expected to trigger are an important building block on the path to a more climate-friendly economy", said Dr Norbert Kloppenburg, member of the Executive Board of KfW Group.

CAF received a first loan amounting to EUR 150 million from KfW in 2011. It was used to finance eleven innovative projects in different renewable energy technologies and sustainable local public transport systems in five countries that had a considerable impact on climate and the environment.

Further information on KfW Development Bank is available at
www.kfw-entwicklungsbank.de