In compliance with its commitment to support the region to face the effects of climate change, CABEI has achieved its accreditation to different global entities in order to facilitate the flow of funding into the region to finance initiatives focused on adaptation and mitigation to climate change.
United Nations Framework Convention on Climate Change (UNFCCC). CABEI was accredited as Permanent Observer of the UNFCCC in the framework of the COP22, held in Marrakech, Morocco, between November 7 and 18, 2016.
Adaptation Fund (AF). On October 2015, CABEI was accredited as a Regional Implementing Entity by the Climate Change Adaptation Fund. CABEI's accreditation will provide access to resources to execute programs and projects that contribute to combat and cope with the effects of climate change in the countries of the region.
Green Climate Fund (GCF). On December 14, 2016, within the framework of the XV Meeting of the GCF Board held in Apia, Samoa, the Fund made CABEI's accreditation official through the Regional Direct Access modality.
The GCF is the multilateral funding mechanism adopted by the United Nations Framework Convention on Climate Change. To date, it has financial commitments from donor countries for more than US $ 10 billion, making it the largest global climate fund.
Accreditation implies that the CABEI has the capacity to carry out large-scale projects (the highest category of the GCF: greater than US $ 250.0 million). The Bank may also access all the Fund's current financial instruments such as loans, donations, equity participations and partial guarantees, all of which boast the highest environmental and social category (A); as well as obtain financing from the GCF to carry out micro, small, medium and large projects.
With this, CABEI became the first entity in Central America to obtain accreditation before the GCF, and the fourth regional entity for Latin America and the Caribbean to be accredited under the Fund's standards.
As an accredited entity, the Bank will strengthen its support to member countries in achieving the commitments and goals they agreed upon in various climate change conventions; and in the implementation of the National Determined Contributions, through the execution of regional and national projects and programs, which contribute to increasing the resilience of communities in the face of the adverse effects of climate change and climate variability.
These accreditations reflect the improvements and structural changes that CABEI has been making to position itself as an entity committed to the best international standards in terms of climate change financing, and as a bank committed to the sustainable development of its member countries.
In addition to the possibility of financing programs for adaptation and mitigation of climate change with resources from the GCF and the Climate Change Adaptation Fund, CABEI has other strategic partners that have made financial and technical resources available to finance public and private sector programs and projects, to support countries in implementing climate change mitigation and adaptation actions.
These partners include the German Development Bank (KfW), and the German Agency for Technical Cooperation (GIZ) the European Union, the French Development Agency (AFD), the European Investment Bank (EIB), the Global Environment Facility (GEF), the Ministry of Foreign Affairs (MoFA) of the Republic of China (Taiwan), the International Cooperation Development Fund (ICDF)) of the Republic of China (Taiwan), the Economic Development Cooperation Fund (EDCF) in South Korea, the Japanese Bank for International Cooperation (JBIC), the United Nations Food and Agriculture Organization (FAO), the United Nations Environment Program (UN Environment), the Spanish Agency for International Development Cooperation (AECID) and Infrastructure Development Finance Company (IDFC), among others.