Multilateral Investment Fund, Nordic Development Fund launch green microfinance program

October 24, 2011 |

In Washington, the Multilateral Investment Fund, a member of the IDB Group, is partnering with the Nordic Development Fund to launch a pioneering $7 million program to pilot green microfinance products for both mitigation and adaptation to climate change in Latin America and the Caribbean. The four-year project, known as the “Ecomicro Program,” is the first to pilot microfinance products related to climate change products and businesses in the region and it will be implemented regionwide. The program will provide training to microfinance institutions to develop sustainable green finance instruments; adjust their risk management models to include climate change risk; and incorporate climate impact into their internal policies and operations.

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