A credit line of up to €100 million is granted to finance green and sustainable projects
The Sustainable Development Goals of the United Nations 2030 Agenda and the increasingly strong relationships between Italy and emerging economies call for the creation of new strategic partnerships. In this context, Cassa Depositi e Prestiti, in its role as the Italian financial institution for development cooperation, granted the first credit line of up to €100 million in 2020 to Corporación Andina de Fomento, one of the main multilateral institutions active in Latin America, for the financing of green and sustainable projects in the energy, transport and social and urban development sectors.
The transaction sees CDP enter the group of international financial institutions that are partners of CAF, including the European Investment Bank (EIB), Kreditanstalt für Wiederaufbau (KfW), Instituto de Crédito Oficial (ICO), Agence Française de Développement (AFD) and Inter-American Development Bank (IADB).
Cassa Depositi e Prestiti's intervention will support investments of more than €1 billion in support of sustainable growth processes and initiatives to combat climate change, contributing to the reduction of CO2 emissions in the region.
With the initiative, CDP is contributing to the achievement of the Sustainable Development Goals (SDGs) of the United Nations 2030 Agenda, and in particular SDG 7 (Clean and affordable energy), SDG 9 (Business, innovation and infrastructure), SDG 11 (Sustainable cities and communities) and SDG 13 (Combating climate change).
The partnership with CAF will also enable CDP to promote the growth of Italian companies in Latin America through new potential investment opportunities in those markets.