Peru will encourage private sector investments in sustainable electric transport solutions with help from a $20 million loan approved by the Inter-American Development Bank (IDB).

The program will contribute to reduce fossil fuel consumption and greenhouse gases emissions through the promotion of low-carbon transportation solutions. To this end, it will offer concessional resources from the Clean Technology Fund (CTF) as well as IDB’s own resources to provide long-term financing for the purchase of electric vehicles. The operation also includes a gender inclusion focus aimed at promoting the participation of women entrepreneurs in the public transportation vehicles and charge infrastructure sectors.