Agreement signed to boost green credits for MSMES
Promoting two of its institutional principles, the region's economic development and environmental sustainability, CABEI launches a new green financing for micro, small and medium-sized enterprises (MSMES).
The Central American Bank for Economic Integration (CABEI) through the MIPYMES Verdes and the Organization of Female Business Development (ODEF) Financial S.A., Honduras, signed today a technical cooperation agreement for the amount of USD $120,000.00 dollars with the aim of encouraging lending to boost energy efficiency and the use of renewable energy in the Micro, Small and Medium-sized Enterprises (MSMES), especially led by women.
The agreement aims specifically to improve the standard of living of micro entrepreneurs, through the implementation of more efficient technologies and practices in the use of energy, which will improve their net income and at the same time be environmentally friendly in particular in SMSES led by women, said the CABEI Manager for Honduras, Pedro Emilio Banegas in spearheading the signature alongside the CEO Santa Isabel Santeli of ODEF Financial S. A.
The agreement includes the creation of financial products focused on financing of investments in energy efficiency and renewable energy and capacity-building in ODEF Financiera S.A. and customer executives.
This initiative joins with others that CABEI is implementing, seeking to improve conditions and access of the MSME sector to financing of environmental investments.
The agreement was signed at the headquarters of CABEI for the amount of USD $120,000.00 dollars, with representatives of CABEI and ODEF Financiera S.A
The MIPYMES Verdes initiative implemented by CABEI, is a tripartite initiative with the financial support from the Government of Germany (through KfW) and the European Union, which has funds for financing small-scale renewable energy and energy efficiency projects amounting to US$44.5 million dollars, channeled through CABEI client financial institutions. It also has a program of technical cooperation amounting to US$ 4.5 million, intended to provide technical cooperation to financial institutions, for the realization of energy diagnostics in MSMES and studies for renewable energy projects, coupled with the promotion and awareness of the issues.
