IDB Invest, Royal America Promote Energy Efficiency in Chile, Colombia Logistics Sector
IDB Invest has approved financing for Royal America for the local-currency equivalent of up to $15 million, seeking to boost energy efficiency in Chile and Colombia. Royal America is a business group with more than 25 years of experience in the rental of electrical machinery.
The deal, with a maturity of up to seven years, will allow the renewal and the increase of machinery and electric charge equipment, helping to contribute with sustainable growth in the logistics and cargo transportation sectors in these two countries.
The expansion and modernization of Royal America machinery will also generate direct and indirect permanent employment in these operations, and boost energy efficiency in different, key economic sectors.
Through this project, IDB Invest may contribute to the development of green mobility in Chile and Colombia’s logistics sector, with impact on segments such as food, retail trade, agriculture and industry, among others.
This project is part of IDB Invest’s commitment to cooperate with companies that have common decarbonization objectives. Technical advice will be provided to Royal America to obtain the B certification, which validates that a company is committed to continuous improvement in the most relevant environmental, social and corporate governance issues by intentionally integrating a sustainable purpose in their business model.
The deal is expected to contribute to the following Sustainable Development Goals (SDGs) of the United Nations: Decent Work and Economic Growth (SDG 8), Industry, Innovation and Infrastructure (SDG 9), and Responsible Production and Consumption (SDG 12).
About IDB Invest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $15.3 billion in asset management and 375 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.
About Royal America
Royal America is a regional group dedicated to the lease of electrical machinery used in distribution centers and for industrial cargo, with more than 25 years of experience and operations in Chile, Colombia and Ecuador.