News / Building Bulletin

Funding boost for Peruvian construction sector

Suzanne Starbuck

Published 08 April 2024, 09:45

International Finance Corporation (IFC) and Japan International Cooperation Agency (JICA) have provided the final tranche of a US$400m financing package to global finance group BBVA in Peru with the objective to promote sustainable construction and energy efficiency projects in the country. The first part of the financing, carried out in June 2023 by IFC, was for US$150m.  The financing package from IFC and JICA will allow BBVA to strengthen its loan portfolio for sustainable construction in the country. The package includes advisory services to provide technical support to real estate developers in EDGE and LEED certifications for residential, industrial and commercial buildings. The financing will also be used to develop energy efficiency projects. In addition, IFC will support BBVA on environmental, social and governance (ESG) guidelines.  Alfonso García Mora, IFC vice president for Europe, Latin America and the Caribbean, said: “The sustainable construction sector i...