Panama became a non-founding regional CABEI member in 2007. At the close of 2020, it had a shareholding of 4.84% and US$ 64.00 million in capital contributions.
Its subscribed capital is US$ 358.40 million. Between 2016-2020, Bank approvals to the country reached the US$ 1.8 billion, while disbursements for that same period totaled US$ 1.7 billion. Specifically in 2020, CABEI channeled approvals amounting to US$ 400.0 million and disbursements totaling US$ 738.0 million to meet the population’s needs stemming from the COVID-19 emergency and to support economic recovery.
CABEI, European Union and German Government's Green MSMEs II Initiative strengthens capacities for energy transition in Panama's MSME sector
During Corporate Social Responsibility (CSR) Week, more than 100 business leaders strengthened their technical skills in the use of clean energy.
Panama City, October 20, 2023.- Promoting dialogue and raising awareness among micro, small and medium-sized enterprises (MSMEs) about the energy transition in Panama was the objective of the "Capacity Building for Energy Transition" panel held as part of the 12th Corporate Social Responsibility (CSR) Week with the support of the Green MSMEs II Initiative of the Central American Bank for Economic Integration (CABEI), the European Union (EU) and the German government, through KfW.
The meeting analyzed the opportunities and benefits of the energy transition for the sector, the strengthening and training needs for human capital in this area, and the future challenges to close gaps between the demand and supply of skilled labor in renewable energies, cleaner production and energy efficiency.
The Ambassador of the European Union in Costa Rica, Izabela Matusz, used her speech to present Global Gateway (GG), an integrated EU investment and cooperation strategy that promotes a green and fair digital transition in Panama. She informed that the GG Working Group for the Energy Transition was created to explore, among other things, how best to involve European companies in the energy sector in the technical strengthening of human capital.
CABEI's Chief Country Officer in Panama, Carlos Moreno, commented that "CABEI is committed to continuing to support the growth of our micro, small and medium-sized enterprises as a fundamental part of the development of our countries, always promoting environmentally sustainable growth.”
The event is part of the learning sessions offered by CSR Week 2023, under the slogan People | Planet | Prosperity, which brought together sustainability leaders from the most important and innovative companies in the country. The event was also attended by international experts working on collaborative solutions to face the challenges of environmental, social and governance factors.
The Green MSMEs II Initiative aims to protect the climate and the environment by creating and offering appropriate, efficient, and sustainable financial products for the sector with investments in renewable energy, energy efficiency, and cleaner production. At the regional level, it has granted more than US$37 million in loans and more than US$3 million in guarantees, protecting more than 10,000 jobs in more than 600 companies.
