NAMA: Latin American Investment Facility

Title: Latin American Investment Facility
SupportDescription: <span style="line-height: 115%; font-family: 'Calibri','sans-serif'; font-size: 11pt; mso-fareast-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'; mso-ansi-language: EN-GB; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">The Latin American Investment Facility (LAIF) is a financing mechanism where  grants are mixed with non-grant financing such as loans or equity through  multilateral and/or bilateral public European Development Finance Institutions and regional Latin American banks, to support investment in the region.  The facility supports infrastructure projects in different sectors and private sector development. <span style="line-height: 115%; font-family: 'Calibri','sans-serif'; font-size: 11pt; mso-fareast-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'; mso-ansi-language: EN-GB; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">One of LAIF’s key strategic objectives is to foster increased protection of the environment and support climate change adaptation and mitigation actions. In order for the EU to meets its commitments in terms of climate finance, specific Climate Change Windows (CCWs) have been created in EU regional blending mechanisms such as the LAIF. The CCWs encompass both public and private investments in strategic areas such as transport, energy, environment, water, sanitation and forests. 
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EntityContactPerson1: Directorate-General Development and Cooperation – EuropeAid, B-1049 Brussels, Belgium||
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EntityEmail1: EuropeAid-LAIF@ec.europa.eu||
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TypeOfOrganization: Multilateral organisation
UsedCurrency: EUR
SupportAvailableFor: Implementation of NAMAs
RegionalScopeIS: Latin America and the Caribbean
CommentsRegions: <span style="line-height: 115%; font-family: 'Calibri','sans-serif'; font-size: 11pt; mso-fareast-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'; mso-ansi-language: EN-GB; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"> Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay Peru, Uruguay and Venezuela There is no pre-defined allocation. 
UNParty: All
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TypeOfRequiredFinancialSupportIS: Grant; Loan (Private)
CommentsOnFinancialSupport: <a name="NSA_D23"><span style="line-height: 115%; font-family: 'Calibri','sans-serif'; font-size: 11pt; mso-fareast-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'; mso-ansi-language: EN-GB; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"> The European Union and Member States committed EUR 192 million between 2009 and 2013.  Funds are disbursed in the form of grants, and can accompany and leverage loans from eligible financial institutions.   European institutions are multilateral (European Investment Bank (EIB) and the Nordic Investment Bank (NIB), and a number of bilateral development financial institutioins from the EU Member States: currently,Agence Française de Développement (AFD), Agencia Española de Cooperación Internacional para el Desarrollo (AECID), KfW Entwicklungsbank (KfW), Oesterreichische Entwicklungsbank AG (OeEB), Società Italiana per le Imprese all'Estero (SIMEST) and Sociedade para o Financiamentodo Desenvolvimento (SOFID). LAIF works closely with a number of regional Latin American development banks; at present, Central American Bank for Economic Integration (CABEI), CAF Latin American Development Bank, and Inter-American Development Bank (IDB) can also co-finance projects together with eligible financial institutions. Finance is made available in support of  public infrastructure projects, the provision of loan guarantees, interest rate subsidies, technical assistance and risk capital operations.</a> 
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SectorIS: Energy supply; Transport and its Infrastructure
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SupportProvisioningDescription: Strategies and priorities are fixed by the LAIF Strategic Board, which is chaired by the European Commission and the European External Action Service, and composed of representatives from the EU Member States.The LAIF partner countries and the European and Latin America finance institutions take part in the strategic meetings of the Board as observers. Projects reflect LAIF’s three interconnected and mutually reinforcing strategic objectives: improve regional interconnectivity by establishing better energy and transport infrastructures, including energy efficiency, renewable energy systems, sustainability of transport and communication networks; increase protection of the environment and support climate change adaptation and mitigation actions: promote equitable and sustainable socio-economic development through improvement of the social services infrastructure and support for small and medium sized enterprises (SME). Projects are presented by the European Lead Financial Institution to the Finance Institutions Group (FIG) which appraises and disburses funding for projects. Once a project has been approved, the partner country and/or the Lead Finance Institution is responsible for launching the tenders for the project. It is usually the Lead Finance Institution's procurement procedures which apply (and not the European Commission’s).
SupportProvisioningLink: http://ec.europa.eu/europeaid/where/latin-america/regional-cooperation/laif/index_en.htm
SupportInformationProvided: The LAIF Board has approved twenty operations in the Latin America Region, granting a total LAIF contribution of over EUR 160 million (end 2012). 19 of these are regarded as having a particularly positive impact on the environment and therefore come under the EU’s Climate Change Window.
UNSupportParty: European Union
AttachmentDescription: LAIF-action-fiche.pdf;LAIF information sheet
Item Status: Published
Publishing date: 11/5/2013
NAMAId: S-74
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Approval Status: Approved
Attachments: LAIF-action-fiche.pdf

Created at 11/6/2013 2:55 PM by Milan Klima
Last modified at 9/14/2015 3:36 PM by System Account

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