The banking group’s commitments included just over US$1B for hydro power plants with installed capacities of more than 10MW. The bulk of the funds (US$601M) are from the IBRD while the International Finance Corporation (IFC) provided US$361M. Only US$21M was provided by MIGA, the group’s political risk insurance arm.
Hydro power plants up to 10MW capacity were also included in the US476M given to the New-Renewable Energy category, which also included projects in the wind, solar, biomass and geothermal sectors.
In total, the finding increased 87% to almost US$2.7B from the previous 12 months. The figure also includes nearly US$1.2B for energy efficiency projects. The commitments include carbon finance and co-financing support from the Global Environment Facility.
