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LatinNews Daily - 22 July 2019

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In brief: US$31.5m credit line for sustainable energy projects in Colombia

* Colombia’s foreign trade bank, Bancóldex, together with the ministry of trade, industry & tourism have opened a line of credit of a maximum of Col$100bn (US$31.5m) to promote investment projects in sustainable energy and energy efficiency, namely the optimisation of electrical or thermal energy consumption and the implementation of energy efficient projects such as LED lighting or high efficiency engines. Projects for the generation of electric and thermal energy from renewable energy sources such as biomass and solar energy, among others, can also be financed. Of the money available, Col$30bn will be earmarked for long-term loans, where entrepreneurs will have from five to seven years to repay the loan acquired, and the remaining Col$70bn will be reserved for medium-term loans, where entrepreneurs will have up to five years to pay repay the loan; all repayment periods will have a grace period of up to one year.