Latin America

The European Investment Bank (EIB), in partnership with Enel and SACE, the Italian Export Credit Agency, has provided Enel Group subsidiary Enel Colombia with a loan in the local currency, for a maximum amount in Colombian pesos equivalent to $300 million, which through a synthetic product neutralises the exchange rate risk. The loan is backed by a SACE guarantee. Through this facility, aimed at financing the development of power grids and renewable energy generation in Colombia, the EIB, Enel and SACE have joined forces to support the energy transition in the country and mitigate the effects of climate change.

European Commissioner for the Environment, Oceans and Fisheries Virginijus Sinkevičius, name and last name of the person representing Ecuador, Head of the Latin America and Caribbean Public Sector Division of the European Investment Bank Kristin Lang, and Chief Executive Officer of Empresa Pública Estratégica Corporación Eléctrica del Ecuador Paúl Urgilés, today signed a $125 million loan in Quito to improve power supply security in Ecuador and Peru and optimise market cost structures, while fostering regional power trade.

European Investment Bank (EIB) Vice-President Ambroise Fayolle and President of the Brazilian Development Bank (BNDES) Aloizio Mercadante signed a memorandum of understanding today at COP28 in Dubai, to explore co-financing opportunities in the renewable energy, environment and social sectors in Brazil, including in the Amazon region. The memorandum of understanding will strengthen coordination between the two institutions to promote joint activities and ensure that their work is complementary and cohesive. EIB and BNDES are also discussing a possible credit line of up to €300 million with a focus on the water and sewerage sectors.