OREANDA-NEWS. July 31, 2015. The Inter-American Development Bank (IDB) has approved non-refundable financing of \\$14.4 million from the Global Environmental Facility, to support a project in Argentina that incorporates energy efficiency and renewable energy measures to improve the quality of life of families and reduce greenhouse gases.

“This project is highly innovative because it will establish new technical standards and specifications for the construction of low-cost housing that is energy efficient. There are no precedents for projects of this magnitude and reach in Latin America and the Caribbean,” said Alberto Levy, the IDB project team leader.

To this end, 128 prototypes with very low greenhouse gas emissions will be built in Argentina's eight bio-climactic zones. Renewable energy schemes adapted to each of the zones will be used in the projects, which will be monitored for one year. Inspections also will be carried out during the different construction stages and during housing use.

The project is also expected to strengthen the market for the development of technology for energy efficiency and renewable energy by establishing new minimum standards for the construction of low-cost housing.

The project is highly complex because of the participation of 12 federal, provincial and public agencies and institutions in Argentina.

The non-refundable financing approved by the IDB will be in addition to \\$70.7 million in local matching funds and an IDB technical cooperation grant of \\$1 million.

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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.