Inter-American Development Bank (IDB)

Since the beginning of the COVID19 pandemic in early 2020, Inter-American Development Bank (IDB) have committed at least USD 2.02 billion to supporting energy projects through new loans, grants, and guarantees according to their own reporting and other publicly available information. This public finance includes:

  • At least USD 184.85 million for fossil fuels without conditions
  • At least USD 763.79 million for unconditional clean energy
  • At least USD 428.67 million for conditional clean energy
  • At least USD 641.82 million for other energy

By energy type, Inter-American Development Bank (IDB) committed at least USD 100.00 million to oil and gas (at least USD 100.00 million to unconditional oil and gas).

Finally, no public finance identified for multiple fossil fuels.

A considerably larger amount of new public finance from Inter-American Development Bank (IDB) that is not at the project level may also benefit different elements of the energy sector, however this finance is not reported on in a way that can be disaggregated and therefore is not included in the database. This finance is largely made up of (a) investments in financial intermediaries (like commercial banks, private equity firms, or other development funds), (b) budgetary or policy support loans that are cross-cutting across many areas of government, (c) technical assistance, and (d) funding for associated infrastructure like ports or roads that will be primarily used for the transport of energy-related goods.

Many of these public finance commitments are part of programs that existed prior to the COVID-19 pandemic, however they only represent projects that were approved post-pandemic. Recovery spending via Inter-American Development Bank (IDB) is cross cutting and it is quite subjective to disaggregate what projects are or are not recovery related.

Updated: 22 September 2021


At least

$184.85 million

Supporting fossil fuel energy



At least

$1.19 billion

Supporting clean energy

Inter-American Development Bank (IDB)

Since the beginning of the COVID19 pandemic in early 2020, Inter-American Development Bank (IDB) have committed at least USD 2.02 billion to supporting energy projects through new loans, grants, and guarantees according to their own reporting and other publicly available information. This public finance includes:

  • At least USD 184.85 million for fossil fuels without conditions
  • At least USD 763.79 million for unconditional clean energy
  • At least USD 428.67 million for conditional clean energy
  • At least USD 641.82 million for other energy

By energy type, Inter-American Development Bank (IDB) committed at least USD 100.00 million to oil and gas (at least USD 100.00 million to unconditional oil and gas).

Finally, no public finance identified for multiple fossil fuels.

A considerably larger amount of new public finance from Inter-American Development Bank (IDB) that is not at the project level may also benefit different elements of the energy sector, however this finance is not reported on in a way that can be disaggregated and therefore is not included in the database. This finance is largely made up of (a) investments in financial intermediaries (like commercial banks, private equity firms, or other development funds), (b) budgetary or policy support loans that are cross-cutting across many areas of government, (c) technical assistance, and (d) funding for associated infrastructure like ports or roads that will be primarily used for the transport of energy-related goods.

Many of these public finance commitments are part of programs that existed prior to the COVID-19 pandemic, however they only represent projects that were approved post-pandemic. Recovery spending via Inter-American Development Bank (IDB) is cross cutting and it is quite subjective to disaggregate what projects are or are not recovery related.

Public money commitments to fossil fuels, clean and other energy in Inter-American Development Bank (IDB) spending since January 2020, USD billion, as of 22 September 2021

Policies and Finance

MDB Recipient Country Category Policy name Sector Energy Type Mechanism Value committed, USD Date of announcement Policy type Sub-Institution or Programme Receiving entity Stage Arm of Government Primary and secondary stated objective of the policy Policy background Links to official sources Links to additional sources
Inter-American Development Bank (IDB) Multiple Fossil unconditional Bundled – IDB “Fossil Unconditional” Investments under $100 million since Jan 1 20... Multiple sectors Multiple energy types Loan (Hybrid),loan guarantee (... 84850000 2020050808/05/2020 Fiscal Multiple Multiple Several energy stages Public finance institution This line item reflects IADB investments made in "clean unconditional" projects (as per Energy Policy Tracker methodology) since January 1, 2020.
Project-level data can be accessed here:
http://priceofoil.org/shift-the-subsidies/
Inter-American Development Bank (IDB) Multiple Other energy Bundled – IDB “Other Energy” Investments under $100 million since Jan 1 2020 Multiple sectors Multiple energy types Loan (Hybrid),loan guarantee (... 141816667.00 2020050808/05/2020 Fiscal Multiple Multiple Several energy stages Public finance institution This line item reflects IADB investments made in "clean unconditional" projects (as per Energy Policy Tracker methodology) since January 1, 2020.
Project-level data can be accessed here:
http://priceofoil.org/shift-the-subsidies/
Inter-American Development Bank (IDB) Multiple Clean conditional Bundled – IDB “Clean Conditional” Investments under $100 million since Jan 1 2020 Multiple sectors Multiple energy types Loan (Hybrid),loan guarantee (... 148666667 2020050808/05/2020 Fiscal Multiple Multiple Several energy stages Public finance institution This line item reflects IADB investments made in "clean unconditional" projects (as per Energy Policy Tracker methodology) since January 1, 2020.
Project-level data can be accessed here:
http://priceofoil.org/shift-the-subsidies/
Inter-American Development Bank (IDB) Multiple Clean unconditional Bundled – IDB “Clean Unconditional” Investments under $100 million since Jan 1 202... Multiple sectors Multiple energy types Loan (Hybrid),loan guarantee (... 193788794.00 2020050808/05/2020 Fiscal Multiple Multiple Several energy stages Public finance institution This line item reflects IADB investments made in "clean unconditional" projects (as per Energy Policy Tracker methodology) since January 1, 2020.
Project-level data can be accessed here:
http://priceofoil.org/shift-the-subsidies/
Inter-American Development Bank (IDB) Mexico Clean unconditional Construction and operation of a solar power plant and associated infrastructure in the state of Camp... Power generation Solar Loan (Hybrid),loan guarantee (... 100000000 2020080606/08/2020 Fiscal IDBInvest La Pimienta Solar S. de R.L. de C.V. Electricity generation Public finance institution "IDB Project: 12893-01; Funding - IDBInvest. The La Pimienta A/B Bond Solar Project consists of the design, construction, commissioning, operation and maintenance of approximately 444 megawatt-peak solar power plant in the state of Campeche, Mexico; and all associated transmission and interconnection facilities, which include a transmission line of up to 2.17 km. from the lift substation, to the interconnection substation with the Transmission System network. The Project is being developed by Atlas Renewable Energy, one of the largest renewable energy developers in Latin America with concrete experience in developing solar PV projects in Mexico. The project has a long-term power purchase agreement that will contribute to achieving the objectives of the Government of Mexico to diversify its electricity matrix by delivering clean PV solar energy and supporting the impulse to create a wholesale electricity market while reducing the country's dependence on thermal energy, since the Mexico's objective is that in 2050 clean energy sources provide 50% of the electricity generation combination. NOTE #1: The amount appears to include both an A-Loan and a B-Loan from IDB-Invest in equal amounts (i.e., $50.0 m. each). NOTE #2: As of November 5, 2020, IJ Global says this project has not yet reached financial close and IDBInvest's funding is only $50.0 m."
"
https://www.idbinvest.org/en/projects/la-pimienta-ab-bond-solar-project
https://www.idbinvest.org/en/projects/la-pimienta-ab-bond-solar-project" Accessed 15 Jan 2021
Inter-American Development Bank (IDB) Peru Fossil unconditional Expansion of the Natural Gas Distribution System in the Department of Lima and the Constitutional Pr... Power generation Gas and gas products Loan (Hybrid),loan guarantee (... 100000000 2020073131/07/2020 Fiscal IDBInvest Gas Natural de Lima y Callao, S.A. (“Cálidda”) Electricity storage or transmission or distribution Public finance institution "IDB Project: 13146-01; Funding - IDBInvest. Gas Natural de Lima y Callao, S.A. is the sole concessionaire for the pipeline distribution of natural gas in the Department of Lima and the Constitutional Province of Callao. Its main shareholder is Grupo de Energía de Bogotá, a business leader in the energy sector with operations in Colombia, Brazil, Peru, and Guatemala. The funds will finance the expansion of the Natural Gas Distribution System in 2020–2021 (the “Project”) in order to reach more users, mainly households and small and medium-sized enterprises. NOTE #1: It's possible that this project should be marked ""true"" for ""access"" but it's unclear - especially because the project does not seem to entail electricity access. NOTE #2: IJ Global cites a financial close date of September 2, 2020."
"
https://www.idbinvest.org/en/projects/calidda
https://ijglobal.com/data/transaction/52204/calidda-gas-distribution-expansion-idb-loan" Accessed 15 Jan 2021
Inter-American Development Bank (IDB) Chile Other energy Liquidity Program for Enel Distribución Chile Power generation Multiple energy types Loan (Hybrid),loan guarantee (... 100000000 2020062626/06/2020 Fiscal IDBInvest Enel Distribución Chile S.A. Electricity storage or transmission or distribution Public finance institution "IDB Project: 12718-04; Funding - IDBInvest. Subject to the corresponding corporate approvals by both parties, this transaction consists of an uncommitted medium-term program provided by IDB Invest that will be used to discount receivables arising from the provision of services by Enel Distribución Chile S.A. . The Operation includes accounts receivable whose payment will be deferred due to the exceptional measures taken by the Company to mitigate the impact of COVID-19 on its supply customers. "
"
https://www.idbinvest.org/en/projects/liquidity-program-enel-distribucion-chile
https://www.treasury.gov/resource-center/international/development-banks/Documents/June_2020_Voting_Record.pdf (see June 26, 2020)
https://ijglobal.com/data/transaction/51281/enel-distribucion-chile-idb-liquidity-facility" Accessed 15 Jan 2021
Inter-American Development Bank (IDB) Mexico Clean unconditional Three renewable energy projects (Green Power Generation Assets) Power generation Multiple renewable Loan (Hybrid),loan guarantee (... 100000000 2020012828/01/2020 Fiscal IDBInvest Dolores Wind, S.A. de C.V, Parque Amistad IV, S.A. de C.V. y EGP Magdalena Solar, S.A. de C.V. Electricity generation Public finance institution "IDB Project: 12718-03; Funding - IDBInvest. The financing consists of three separate loans for three renewable energy projects (two wind farms and a solar plant with a total capacity of more than 600 MW) developed and built by Enel S.p.A. through its Mexican renewable energy subsidiary, Enel Rinnovabile S.A. de C.V. . The projects include the Dolores Wind Farm Project in Nuevo León, the Amistad IV Wind Farm Project in Coahuila, and the Magdalena Solar Project in Tlaxcala, which together with Dolores and Amistad are referred to as the ""Portfolio Projects"". NOTE #1: IDBInvest's project page cites two amounts: $100.0 m. and $150.0 m. We have used the smaller of these to be conservative. "
"
https://www.idbinvest.org/en/projects/green-power-generation-assets
https://www.treasury.gov/resource-center/international/development-banks/Documents/January2020VotingRecord.pdf (see January 28, 2020)
https://ijglobal.com/data/transaction/52745/enels-mexican-wind-portfolio-613mw-idb-loan-2020
https://ijglobal.com/data/transaction/39757/enels-mexican-wind-portfolio-613mw" Accessed 15 Jan 2021
Inter-American Development Bank (IDB) Bahamas Clean unconditional Advancing Renewable Energy in The Bahamas Power generation Multiple renewable Loan (Hybrid),loan guarantee (... 170000000 2020012929/01/2020 Fiscal Government of the Bahamas Electricity generation Public finance institution "IDB Project: BH-O0006; The objective of the Conditional Credit Line for Investment Projects (CCLIP) is to advance RE within The Bahamas, improving the reliability and resilience to climate-related natural disasters, while rehabilitating critical infrastructure. NOTE: The project page gives no info about the source of the funding so an assumption has been made that IDB funds are being employed. Similarly, the mechanism is not specified but a reference is made to a ""credit line"" which is being interpreted to be a loan."
"
https://www.iadb.org/en/project/BH-O0006
https://www.iadb.org/en/news/bahamas-promote-renewable-energy-idb-support" Accessed 15 Jan 2021
Inter-American Development Bank (IDB) Chile Clean unconditional Construction and operation of three wind farms and two solar power plants (Huemul Portfolio) Power generation Multiple renewable Loan (Hybrid),loan guarantee (... 200000000 2020083131/08/2020 Fiscal IDBInvest Huemul Energía Spa Electricity generation Public finance institution "IDB Project: 12380-02; Funding - IDBInvest. The Huemul project portfolio consists of the construction and operation of three wind farms and two solar power plants in Chile, with a total installed capacity of 630.2 megawatts. The wind farm projects include the following: (i) the Ckani Subproject located in Calama, with an installed capacity of 109.2 MW; (ii) the Llanos del Viento Subproject located in Antofagasta, with an installed capacity of 160.0 MW; and (iii) the Puelche Sur Subproject located in the Los Lagos Region, with an installed capacity of 156.0 MW. The solar projects include (i) the Pampa Tigre Subproject located in Antofagasta, with an installed capacity of 100.0 MW; and (ii) the Valle Escondido Subproject located in the Atacama Region, with an installed capacity of 105.0 MW. NOTE: The project is marked ""true"" for ""visible"" even though IDBInvest's project page does not provide an approval date as of November 6, 2020. However, IJ Global gives a financial close date of August 31, 2020 and a separate news article also gives a financial close date of August 31, 2020."
"
https://www.idbinvest.org/en/projects/huemul-portfolio
https://ijglobal.com/data/transaction/48706/huemul-wind-portfolio-6302mw
https://www.shearman.com/news-and-events/news/2020/09/senior-secured-financing-for-huemul-wind-and-solar-portfolio" Accessed 15 Jan 2021
Inter-American Development Bank (IDB) Ecuador Clean conditional Support for the Transition of the Energy Matrix in Ecuador II Multiple sectors Multiple renewable Loan (Hybrid),loan guarantee (... 280000000 2020060404/06/2020 Fiscal Ordinary Capital Government of Ecuador Several energy stages Public finance institution "IDB Project EC-L1265. Funding - Ordinary Capital. The program's general objective is to support the country to achieve its climate change objectives in the energy sector, and contribute to the consolidation of fiscal and external accounts, through policy reforms. The specific objectives of the second programe are: (i) to support the advancement of the replacement of fossil fuels with electricity and to increase energy efficiency measures; (ii) promote access to electricity and strengthen conditions for increasing the use of renewable energy sources; and (iii) advance the implementation of the country's commitments for the exchange of greater electricity in the region. NOTE: The IDB project page lists the project's status as ""closed"" but lists a ""signature date"" of June 17, 2020 while IDB's cumulative projects listing implies the approval date was June 4, 2020. "
"
https://www.iadb.org/en/project/EC-L1265
https://www.iadb.org/en/news/ecuador-moves-ahead-transformation-energy-grid-idb-support
https://www.treasury.gov/resource-center/international/development-banks/Documents/June_2020_Voting_Record.pdf (see June 4, 2020)
https://ijglobal.com/data/transaction/51506/ecuadorian-renewable-energy-mix-multilateral-loan-2020" Accessed 15 Jan 2021
Inter-American Development Bank (IDB) Paraguay Other energy Investments to promote sustainable energy in Paraguay Power generation Multiple energy types Loan (Hybrid),loan guarantee (... 400000000 2020050606/05/2020 Fiscal Government of Paraguay Electricity storage or transmission or distribution Public finance institution "IDB Project: PR-O0004; To contribute to the economic development of the country through a sustainable, reliable and efficient electricity supply through new transmission and distribution infrastructure. NOTE: The project page provides very little information. An assumption has been made that the funding is in the form of a loan and that the funding is from IDB resources. "

https://www.iadb.org/en/project/PR-O0004 Accessed 15 Jan 2021