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Canada’s Total Climate Finance Contribution:
$5,000,000 CAD
- 2010 to 2011: $5,000,000 CAD
Targeted Countries:
Honduras
Funding Period: 2010 to 2011
Type of Support:
Mitigation
Project Funded through a Canadian Facility:
IFC - Canada Climate Change Program (CCCP)
Delivery Partner(s):
Description
The IFC-Canada Climate Change Program provided a credit line to a local financial intermediary in order to provide loans to small scale renewable energy, energy efficiency, and cleaner-production projects in Honduras. This project is complemented by advisory services to help the bank build a pipeline and finance renewable energy projects.
Results/Expected Outcomes
This initiative is expected to reduce greenhouse gas (GHG) emissions through the use of alternative energy sources and cleaner technologies. The project will also contribute to the creation of new jobs during the design, construction, and operation of the sub-projects. In addition, consumers will have improved access to more reliable and less costly sources of energy. With support from Canada, this project is expected to mobilize an additional $45 million in co-financing from public and private sources and lead to an estimated greenhouse gas emissions reduction of 32,000 metric tons of CO2 per year.*
Co-Financing/Mobilized Finance ($CAD):
$45,000,000
Estimated GHG (metric tons of CO₂) Reduction Associated with Project (per year)Disclaimer *:
32,000