CABEI and the OeEB of Austria boost energy efficiency by signing a loan for up to US $30 million

Vienna, Austria, May 11, 2018.- The Central American Bank for Economic Integration (CABEI) and the Development Bank of the Republic of Austria, Oesterreichische Entwicklungsbank AG (OeEB), have signed a loan agreement for up to US $30 million. This is the third line of credit that they sign together.

These funds will be used to finance CABEI eligible projects related to energy efficiency, renewable energy, adaptation to climate change, and the reduction of polluting emissions and greenhouse gases.

After signing the agreement at the headquarters of the OeEB in Vienna, the Executive President of CABEI, Dr. Nick Rischbieth, expressed his satisfaction for this action that extends the current collaboration between the two institutions since December 2008.

In this regard, Dr. Rischbieth highlighted the spirit of collaboration between both entities and CABEI's commitment to environmental sustainability, which seeks to ensure that all its approved interventions have environmental viability and contribute to the reduction of dependence on oil.

The cooperation relationship between CABEI and the OeEB dates back to December 2008 with the subscription of a loan for an amount of EUR 15 million to finance private sector projects. Then, in October 2013 a second loan was approved for an amount of EUR 30 million for projects related to renewable energy.