CABEI launches CAMBio II Initiative to finance MSMEs in climate change adaptation projects
This program will provide financing, technical assistance and incentives for companies to increase their adaptability to climate effects.
Tegucigalpa, June 30, 2021 - Aware of the importance of increasing the resilience to climate change of micro, small and medium-sized enterprises (MSMEs) in the region, the Central American Bank for Economic Integration (CABEI) and the Green Climate Fund (GCF) held a workshop on Wednesday to launch the "Productive Investment Initiative for Adaptation to Climate Change (CAMBio II)," with an approved amount of US$28 million.
The initiative will support MSMEs in accessing credit, technical assistance and incentives for climate change adaptation investments in sectors related to agroforestry, organic agriculture, silvopastoral systems, sustainable tourism, productive activities in private/community protected areas, sustainable forest management, sustainable fisheries and aquaculture, among others.
At the opening of the event, CABEI Executive President Dr. Dante Mossi stated, "CABEI is the accredited entity with the largest amount of GCF approvals for the region, currently approving close to US$350.9 million. We are therefore officially pleased to launch the CAMBio II Initiative, one of the main projects approved jointly with the GCF to support MSMEs in adapting their production models, which will make them more resilient to climate change".
The program is even more important in an environment where climate change is affecting biodiversity and therefore productive landscapes in Central American countries. In this context, millions of dollars in losses are estimated for small producers who require interaction between the productive sector and biodiversity protection for the sustainable development of their operational and commercial activities.
One of the workshop's conclusions was CABEI's commitment to sectoral programs related to the environment and climate change in the Central American region and the Dominican Republic. The speakers urged financial institutions to be protagonists and participants in the CAMBio II Initiative.