Bolivia will receive a 35-million loan from the Inter-American Development Bank (IDB) in order to finance an energy efficiency program to improve its public lighting systems, helping the country to decarbonize its electricity system.

The program will advance a transition to more efficient technologies like LED lighting, proper waste disposal and digitalized management systems, benefiting over 800,000 people in participating municipalities. The operation will also help mitigate climate change, and it will lay the groundwork for future public and private initiatives in the field of energy efficiency by establishing standards and regulations for public lighting.

The IDB loan has a 20-year repayment term, a 10-year grace period, and an interest rate based on the Secured Overnight Financing Rate (SOFR).