CABEI accredited by Climate Change Adaptation Fund
Tegucigalpa, October 14, 2015. - As part of its unceasing efforts to promote financing for climate change adaptation and mitigation initiatives, the Central American Bank for Economic Integration (CABEI) was accredited as a Regional Implementing Entity by the Adaptation Fund, an international fund that finances projects and programs aimed at helping developing countries adapt to the harmful effects of climate change.
The CABEI accreditation will provide access to resources for the execution of programs and projects that contribute to combatting the effects of climate change in the region’s countries. It reflects the structural changes and improvements that CABEI has been undertaking to position itself as a Bank committed to the highest international standards in terms of climate finance and the sustainable development of its member countries.
CABEI Executive President Dr. Nick Rischbieth emphasized that the accreditation represents a milestone in CABEI history, placing it among the multilateral banking elite with regard to climate finance and implementation of the best international development standards. CABEI is the fifth regional entity to be accredited on an international level, together with 20 national and 12 multinational entities.
The Adaptation Fund was established in 2011 to finance projects and programs directed at developing countries that are signatories of the Kyoto Protocol and are vulnerable to climate change. Over the past two years, the Fund has dedicated more than US$180 million to increase climate change resilience in 28 countries around the world.
