CABEI creates technical assistance fund for the formulation of sustainable projects in the region
"Climate Change Investment Project Readiness Fund (FCC)" seeks to achieve a sustainable economic revival.
San Salvador, May 06, 2021.- The Executive President of the Central American Bank for Economic Integration (CABEI), Dr. Dante Mossi, announced the launch of the Climate Change Investment Project Preparation Fund (FCC) with US$5.0 million available for the region´s countries.
This innovative financial solution aims to provide non-reimbursable technical assistance resources for the preparation of projects that enable the adequate management of natural disasters and adaptation to climate change.
This was announced Thursday by Dr. Mossi during a press conference with the Salvadoran media, where he explained that the Fund seeks to accelerate the implementation of initiatives related to the analysis of risk mitigation instruments; the preparation of pre-feasibility and feasibility studies; the evaluation of climate risks, as well as studies for the development of disaster warning and monitoring systems, and the acquisition of goods and equipment for pilot demonstration projects (up to 30% of the project), among others.
CABEI's Director for El Salvador, Luis Rodríguez, said, "El Salvador has great potential; it is a country with many conditions and natural resources to develop favorable conditions for green projects. We congratulate this Bank initiative for supporting projects in this line with a forward-looking approach and with a great impact on partner countries".
Public, private and institutional investment projects in Central American countries that wish to develop and execute sustainable projects in areas such as electric mobility, water and sanitation, energy, and the acquisition of hybrid or electric vehicles will be eligible, upon request to CABEI's representative offices in each country.