CABEI announces green project winner of the Climate Change Investment Readiness Fund for the region
A total of 20 proposals focused on sustainable mobility/electricity, sustainable and resilient infrastructure, smart and circular cities and environmental sustainability were submitted by Guatemala, El Salvador, Honduras, Nicaragua, Panama, Belize and Colombia.
Tegucigalpa, February 7th, 2023 - With the aim of contributing to the fight against climate change and disaster risk reduction, the Central American Bank for Economic Integration (CABEI) completed the evaluation of the request for proposals (RFP) process to support the development of "green projects" through a Climate Change Investment Project Preparation Fund (FCC) for the countries of the Central American Integration System (SICA) and Colombia.
Twenty proposals from seven countries in the region and Colombia participated in the process, and the winner was the "Sustainable Recovery of the Yojoa Lake Basin in Honduras” project, thanks to its contribution to climate action and environmental sustainability by improving the livelihoods and conditions of this wetland of national importance. The initiative will receive US$1.0 million in non-reimbursable funds to carry out studies and activities related to wastewater treatment, sanitary landfills, sustainable production, and recovery of the aquatic ecosystem of Lake Yojoa for the benefit of approximately 100,000 people living in the area.
"As the region's Green Bank, we continue to carry out diverse activities that provide a timely response to the needs of our countries. Thus, within the framework of the Central American Resilient Reconstruction Program, we created this technical assistance mechanism for the preparation of natural disaster management and climate change adaptation projects for the benefit of Central American families," said CABEI Executive President, Dr. Dante Mossi.
The proposals were evaluated by the Bank with the support of TUM International Gambe University, which provided technical assistance throughout the process. The potential investment to implement the 20 projects submitted under the Request for Proposals (RFP) was estimated at US$5.3 billion.
The process exceeded expectations as the proposals were of high quality and had great potential for sustainable development in the region. CABEI congratulated all participants and encouraged them to continue participating in future processes.
CABEI frames these actions within the framework of its 2020-2024 Institutional Strategy, as well as its 2020-2024 Environmental and Social Strategy, aimed at addressing issues related to climate change and its adverse effects on the quality of life of the population, in addition to enabling its member countries to advance in the fulfillment of Sustainable Development Goal 13 on climate action.