BBVA will further employ the loans to finance small hydro power projects that have an installed capacity of up to 20MW.

IFC’s financing is expected to help Continental finance a pipeline of hydro projects to help the country meet its energy growth annually.

BBVA Continental CEO Torres Llosa commenting on the agreement, remarked that the loans help promote sustainability in the country – a common interest for both parties.

IFC global financial markets director James Scriven added that the support towards development of small hydro power projects is a top priority for the agency.