OREANDA-NEWS.  The EcoCasa program, a joint initiative of Mexico´s Sociedad Hipotecaria Federal (SHF), Germany´s KfW Group and the Inter-American Development Bank (IDB), received the ALIDE Green Award during the 46th Regular Meeting of the General Assembly of the Latin American Association of Development Financing Institutions (ALIDE) in Rio de Janeiro. The prize recognizes the best initiatives of the development banks of Latin America and the Caribbean. The award was received by the Director General of Sociedad Hipotecaria Federal, Lic. Jesús Alberto Cano Vélez.

The EcoCasa program promotes the reduction of greenhouse gas emissions and increased energy efficiency in the housing construction sector. Implemented beginning in 2013, EcoCasa offers bridge loans with a preferential interest rate to developers providing standardized social housing.

To date, EcoCasa has funded about 20,000 EcoCasas, supporting 28 homebuilders and 65 projects. The program plans to build 27,600 houses that will result in a reduction of one million tons of CO2 emissions over 40 years. By the end of the program, more than 105,000 people will have benefited, with savings of up to 28 percent in annual expenditures on energy bills, improved quality of life and improved heating and cooling within their homes.

About the IDB

The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source oflong-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.