Development bank placed $4.4 billion

The Inter-American Development Bank committed $4.4 billion for projects that target climate change adaptation and mitigation, renewable energy and environmental sustainability in 2014, an increase of $1.5 billion over the previous year.

This investment represents one-third of the banks’ lending for the year, surpassing its institutional target of 25 percent, according to the annual “Sustainability Report” unveiled last week.

The report highlights the bank’s sustainability performance in 2014, both in achieving institutional sustainability investment targets, as well as through a series of stories about the projects it is undertaking in its member countries.

Projects highlighted in the report include a new model for sustainable hydropower in Perú and the transformation of an urban landscape with new green spaces in Brazil.

The “Sustainability Report” also details the bank’s work to implement a new sustainable infrastructure strategy and vision, one that sees a shift from infrastructure being a fixed asset to infrastructure that is planned, built, and maintained as a service for people. This is particularly important given that in 2014 some 38 percent of the bank’s approvals were focused on infrastructure.

Other examples of the bank’s work with member countries highlighted in the publication include improving environmental and social standards in wind projects in Uruguay and a sustainable tourism program in Belize.

Additionally in 2014, in partnership with the Harvard Zofnass Program, three infrastructure projects in the region that demonstrated efforts to integrate sustainability into planning, design, construction, and operation, were recognized with the Infrastructure 360 Award.

The bank is the main source of financing for Latin America and the Caribbean.

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