Fwd: IDB to Provide Peru With $25 Million to Fight Climate Change

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IDB to Provide Peru With $25 Million to Fight Climate Change
2010-11-19 18:05:40.647 GMT

By Stephan Nielsen
Nov. 19 (Bloomberg) -- The Inter-American Development Bank
said it will provide Peru with $25 million to reduce its
vulnerability to climate change.
The money will be used to create legal, technical and
institutional structures to respond to global warming, the bank
known as IDB said today in a statement.
Peru will create vulnerability maps and a climate-change
office in the Ministry of Environment, the bank said. While Peru
is not among the world's largest emitters, it is one of the
most-vulnerable countries to global warming, the bank said.
The South American nation has many "climate sensitive"
industries, including agriculture, mining, fishing and energy,
according to the statement.
About 70 percent of the country's population lives near
areas sensitive to climate change, such as the coastal desert
and the Andes mountains. Its hydroelectric reservoirs are
vulnerable during droughts.
The IDB loan has a term of 20 years with a five-year grace
period and a variable interest rate based on Libor. IDB also has
committed more than $2.2 million in technical-cooperation grants
to Peru.

For Related News and Information:
Peru and climate change: TNI PERU CLIMATE <GO>
Renewable-energy special report: GREEN <GO>
For top news on renewable energy: TOP ENV <GO>
Top energy stories: TOP NRG <GO>

--Editors: Mike Anderson, Randall Hackley.

To contact the reporter for this story:
Stephan Nielsen in Sao Paulo at +55 11 3017 4932 or

To contact the editor responsible for this story:
Reed Landberg at +44-20-7330-7862 or landberg@bloomberg.net.