CABEI and ACORDE promote Green MSMEs in Costa Rica
The new financial product, “Green ACORDE,” will provide loans ranging from US$1,500 to US$150,000.
San José, September 30, 2015. - The Central American Bank for Economic Integration (CABEI) and the Costa Rican Association for Development Organizations (ACORDE) established an alliance to promote the development of energy efficiency and renewable energy projects at Micro, Small and Medium Enterprises (MSMEs).
Through this initiative, ACORDE will provide a US$1.5 million credit line to MSME owners, who will use the financing to implement energy efficiency and renewable energy projects in their businesses to improve their operations.
The product, which is funded through non-reimbursable technical cooperation provided to ACORDE by CABEI through its Green MSME Initiative, includes training and access to credit and seeks to promote a culture of rational and efficient resource use.
While presiding over the signing ceremony, CABEI Country Manager for Costa Rica Alexander Garita stated that, "The objective of the technical cooperation is to provide institutional support to contribute to environmental protection by creating financial products that are aimed at environmentally sustainable investments and that are in line with the needs of MSMEs in Costa Rica."
The general public can access the program website at www.acordeverde.com to learn about success stories of entrepreneurs who have already implemented energy efficiency in their operations. In addition, the website includes an energy consumption calculator, financial calculator and material that will teach entrepreneurs about best practices and how to recognize them.
ACORDE Executive Director Danilo Montero stated that, "ACORDE has a team of credit advisers trained to identify opportunities for savings and energy efficiency at the customers’ different installations and businesses in order to subsequently facilitate access to a network of companies specializing in energy audits. These companies will identify opportunities for investment, credit and energy savings, in addition to improving the businesses’ economic situations, while fostering environmental protection."
