The USD 135m loan was signed by a syndicated pool of lenders led by IFC, which is providing USD 45m, with contributions of Proparco (USD 40m), FMO (USD 30m) and OeEB, the Development Bank of Austria (USD 20m). The recipient of the loan is Azure Power, one of the largest solar developers in India. The transaction aims to finance the deployment of about 175 MW of solar capacity on 500+ rooftops of commercial, industrial and government clients in the country. With Azure Power, Proparco is signing its first solar rooftop facility.

Proparco granted a €24 million (COP 75 billion) loan to Colombia’s SOTRAMAC to finance an ambitious and innovative urban public transport project in Cartagena de Indias. This loan will help SOTRAMAC deploy a fleet of 222 buses, running with compressed natural gas, which will form part of the new unified TransCaribe network.

Proparco just signed a $30 million senior loan to the Ghanaian bank CAL Bank. Cal Bank plays a major role in Ghana’s financial sector through its corporate and investment banking activities as well as its support to SMEs. This loan will further strengthen CAL Bank’s ability to answer the Ghanaian private sector’s needs.