CABEI promotes access to green microfinance in Central America
To date, CABEI has made 43 disbursements totaling US$45 million through its Green MSME Initiative.
San Salvador, April 30, 2015. - In order to promote solar energy investment projects to Salvadoran companies, the Central American Bank for Economic Integration (CABEI), through its Green MSME Initiative, with support from the National Cleaner Production Center and the Instituto Superior de Economía y Administración de Empresas (ISEADE), held a Graduate Course on “Evaluation of Photovoltaic Projects.”
The course lasted 63 hours and was attended by 19 representatives from CABEI’s network of Intermediary Financial Institutions, including Banco G&T, Banco Agrícola, Banco de Desarrollo de El Salvador (BANDESAL), Banco Promérica, Banco de América Central, Sistema FEDECREDITO, Banco de los Trabajadores Salvadoreños (BTS), Banco Hipotecario and Banco de Fomento Agropecuario.
The course was taught by officials from the National Cleaner Production Center of El Salvador, who have extensive experience executing, researching and teaching and consulting about photovoltaic projects in the country.
The initiative complements other CABEI operations to provide financial institutions with training about energy investment, specifically renewable energy projects. This will improve the conditions and access of the Central American MSME sector to financing for green investment.
The CABEI-run Green MSME Initiative receives financial support from the German government’s KfW Development Bank and the European Union. It provides financing for small-scale renewable energy and energy efficiency projects amounting to US$44.4 million, which is channeled through CABEI’s network of financial institutions. It also includes a US$4.5 million technical cooperation program intended to provide technical cooperation to financial institutions, energy audits at MSMEs and feasibility studies for renewable energy projects, in addition to promoting and raising awareness about the issue.
CABEI’s Green MSME Initiative promotes innovative solutions, facilitating access to regional bank credit and to non-reimbursable technical assistance in order to develop and execute renewable energy projects.
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