CABEI and Banco Promerica of Costa Rica sign agreement to promote Green Credit

21/04/2015

CABEI promotes the creation of financial products to foster renewable energy and energy efficiency through technical cooperation agreements with intermediary financial institutions.

San José, April 22, 2015.-  The Central American Bank for Economic Integration (CABEI), in the framework of its Green MSME Initiative, and Banco Promerica of Costa Rica have signed a technical cooperation agreement to promote renewable energy and energy efficiency through the placement of green credits.

The US$54,000.00 agreement is intended to increase the interest of the Costa Ricans in making environmentally sustainable investments, such as renewable energy and energy efficiency projects by providing the national market with differentiated financial products in line with the sector's needs.

CABEI Manager for Costa Rica Hazel Cepeda said that, "This cooperation is part of the actions taken in the framework of the Green MSME Initiative, which is executed by CABEI with funds from the German government’s KfW Development Bank and the European Union. The initiative provides financing for renewable energy and energy efficiency projects, which is channeled through CABEI’s network of intermediary financial institutions."

The two institutions have joined forces to finance operations that contribute to reducing climate change, energy consumption, water consumption and carbon dioxide or that generate renewable energy investment.

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