The general objective is to support the country in the decarbonization and sustainability of the energy sector to ensure its contribution to climate commitments through strategic investments and lay the groundwork for accessing green debt capital markets. The specific objectives are: (i) to support the use of new technologies and the modernization of hydroelectric generation infrastructure to make better use of renewable sources; and (ii) to support UTE in strengthening its capacity, in line with the requirements for accessing green finance to: (a) plan, identify and design investments that consider climate change mitigation and adaptation measures; and (b) monitor, verify and report on the environmental effects achieved through investments in climate change mitigation and adaptation.
Project Detail
Country
Uruguay
Project Number
UR-L1177
Approval Date
November 30, 2022
Project Status
Implementation
Project Type
Loan Operation
Sector
ENERGY
Subsector
LOW-CARBON ENERGY TECHNOLOGIES
Lending Instrument
Investment Loan
Lending Instrument Code
INV
Modality
LBR (Loan Based on Results)
Facility Type
-
Environmental and Social Impact Category (ESIC)
Category B: Likely to cause mostly local and short-term negative environmental and associated social impacts and for which effective mitigation measures are readily available
Total Cost
USD 40,000,000.00
Country Counterpart Financing
USD 0.00
Original Amount Approved
USD 40,000,000.00