IDB Invest finances the expansion of American Park with $ 8 million

American Industrial Park (AIP) receives $ 8 million financing from IDB Invest for the expansion of its industrial park in El Salvador.

The multilateral bank will finance an increase in storage capacity and improvements in its logistics capacity, in addition to the completion of the project to build a photovoltaic park on the roofs of American Park.

According to an IDB Invest statement, the financing, with a term of 11 years, will keep AIP competitive in the medium term with the expansion of 17,000 square meters of industrial ceiling.

The eight megawatt (MW) photovoltaic self-generation plant is estimated to provide 20% of the park’s power output and decrease AIP’s dependence on the traditional source.

The solar energy generated could partially mitigate the increases in electricity rates for the park’s client companies.

With the investments, adds the bank, it will also offer workers access to health and social services. “The expansion will generate new jobs to which workers from the surrounding populations will join.”

Through collaboration with IDB Invest, the AIP will make improvements in its environmental and social practices, in areas such as waste management and proper use of water sources (underground and surface).