Energy Cooperation with Latin America
The Commission provides support to Latin America and the Caribbean to help countries in these regions address the most urgent energy challenges: stepping up energy security and the fight against climate change while promoting sustainable economic development. Improved access to low carbon technologies and greater energy efficiency play a key role in this context.
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Different programmes and instruments are at the Commission's disposal to provide targeted support in the field of energy to partner countries.
Latin America Investment Facility
Launched in May 2010, the main purpose of the Latin America Investment Facility (LAIF) is to promote additional investments in infrastructure by mobilising additional financing and encouraging beneficiary governments and public institutions to carry out investments which could not be financed by the market or the development financial institutions alone.
It operates via non-refundable financial contributions to support loans to partner countries from the European Investment Bank (EIB) and other financial institutions. The types of operations include:
- investment co-financing in public infrastructure projects;
- loan guarantee cost financing;
- interest rate subsidies;
- technical assistance; and
- risk capital operations.
The Commission committed a total of €125 million for the 2009-13 period.
Euro-Solar Regional Cooperation Programme
Launched in May 2006, the EURO-SOLAR Programme is a pioneering initiative aiming to reduce poverty by making renewable energies available to remote rural communities without access to electricity.
This involves the installation of 600 generating kits consisting of photovoltaic panels and, in some cases, a back-up wind generator. They rely solely on renewable energy sources.
It is estimated that over 300 000 people living in around 600 villages will benefit from the measure. They currently lack a connection to the electricity grid.
A total budget of €34.9 million, co-financed by the Commission (80%) and the beneficiary countries (20%), was made available for the 2006-11 period.
EUROCLIMA Regional Cooperation Programme
Adopted in 2009, the EUROCLIMA Programme was put in place to help Latin American countries engage in action to deal with climate change by building expertise among decision-makers and scientists. Specifically, the programme aims to:
- reduce vulnerability to climate change;
- reduce social inequalities caused by global warming;
- reduce the socio-economic impact of climate change; and
- reinforce regional integration dialogue.
To achieve this, activities include knowledge sharing, structured dialogue, coordination of actions and fostering synergies.
The programme focuses support on the poorest populations.
The Commission allocated €5 million over the 2010-13 period.