CABEI recognizes Central American financial institutions that provide biodiversity friendly financing
Through the award for benefits to biodiversity (Bio Prize) has benefited a total of 4,729 people, and to date has been awarded a total of US 912,224.84.
Today, the Central American Bank for Economic Integration’s (CABEI) Project CAMbio (Central American Markets for Biodiversity), held a ceremony to present awards to six Honduran financial institutions.
The awards highlight the commitment of these financial institutions, which are pioneers in providing credit to micro, small and medium enterprises that implement production practices targeted at promoting and conserving biodiversity.
Currently, Project CAMbio is working with 24 institutions that to date have placed 8,084 credits, representing a total of US$40.74 million. These credits have permitted soil conservation through planting, waste recycling and organic manure generation, as well as through forest cover conservation and water source conservation.
The financial institutions and MSMEs receive a number of incentives, which are awarded through credit with non-reimbursable funds. One of these incentives involves technical assistance provided to strengthen technical and entrepreneurial capacities. A total of US$1.3 million has been disbursed in benefit of 20,066 people.
A total of 4,729 people have received awards for implementing biodiversity-friendly practices. They are known as Bio-Awards and to date a total of US$912,224.84 has been granted. The Bio-Award involves cash reimbursement of 20% of the loan granted by an Intermediary Financial Institution (IFI) and is in recognition of full compliance with the indicators proposed by the Micro and Small Enterprise (MSE) when the credit is granted. Of the total amount, 70% is given to micro and small business owner and the remaining 30% is given to the IFI.
Honduras
The following institutions were recognized: Banco de Occidente S.A; Banco del País; Banco Lafise Honduras; Banco Hondureño del Café S.A; Cooperativa de Ahorro y Crédito Ceibeña Limitada; and Cooperativa de Ahorro y Crédito Intibucana Limitada.
In Honduras, through Project CAMBio’s financing program for Biodiversity-Friendly (BF) MSMEs has granted a total of US$6.99 million, representing more than 16 loans to cooperatives and individuals. Its Technical Assistance Program has provided a total of US$230,775.85, benefitting a total of 3,368 people. In addition, Bio-Awards totaling US$93,415.93 have been presented to 1,809 people.
The sectors that have received the most support in the country are coffee and cacao agroforestry and sustainable tourism.
Guatemala
The following institutions were recognized in Guatemala: Asociación de Desarrollo Integral Cuenca del Lago de Atitlán (ADICLA), Asociación Ayúdense que Nosotros les Ayudaremos (ANYLA), Fondo para el Desarrollo Solidario (FONDESOL), Fundación Génesis Empresarial, Asociación de Desarrollo Integral Rural (ASDIR) and Banco de Desarrollo Rural S.A. (BANRURAL).
The awards were presented on behalf of CABEI by Mr. Florentino Fernández, Manager of the Guatemalan Regional Office, Mr. Yuri Zenteno, Project CAMBio Regional Coordinator and Mr. Mauricio Ramírez, UNDP Director in Guatemala, who highlighted the work of these IFIs in removing financial barriers and providing funding MSMEs that work in non-traditional sectors.
In Guatemala, through Project CAMBio’s financing program for Biodiversity-Friendly (BF) MSMEs has granted a total of US$9.94 million, representing 6,791 credits. Its Technical Assistance Program has provided a total of US$300,250.93, benefitting a total of 4,091 people. In addition, Bio-Awards totaling US$282,314.81 have been presented to 1,551 people.
The sectors that have received the most support in the country are cardamomen, coffee and cacao agroforestry and organic plantations.
El Salvador
The following institutions were recognized in El Salvador: Banco Hipotecario, Banco de Fomento Agropecuario, Caja de Crédito de Sonsonate, Caja de Crédito de Zacatecoluca, Caja de Crédito de Nueva Concepción and Banco Izalqueño de los Trabajadores.
The awards were presented on behalf of CABEI by Mr. Guillermo Funes, CABEI Director for El Salvador and Mr. Raul Castaneda, Manager of the Salvadoran Regional Office, who highlighted the work of these IFIs in promoting green enterprises.
In El Salvador, through Project CAMBio’s financing program for Biodiversity-Friendly (BF) MSMEs has granted a total of US$16.57 million mainly for certified coffee production. Its Technical Assistance Program has provided a total of US$381,445.75, benefitting a total of 3,650 people. In addition, Bio-Awards totaling US$166,952 have been presented to 52 micro and small enterprises.
The sectors that have received the most support in the country are coffee agroforestry and organic plantations.
Nicaragua
The following institutions were recognized in Nicaragua: Banco de la Producción, S.A. (BANPRO), Banco Lafise Bancentro, S.A, Cooperativa de Servicios Múltiples 20 de Abril R.L, and Fondo de Desarrollo Local (FDL).
In Nicaragua, through Project CAMBio’s financing program for Biodiversity-Friendly (BF) MSMEs has granted a total of US$6.04 million, representing 994 credits to 1,551 people. Its Technical Assistance Program has provided a total of US$350,780.75, benefitting a total of 7,347 people. In addition, Bio-Awards totaling US$293,693.12 have been presented to 735 people.
The sectors that have received the most support in the country are coffee and cacao agroforestry and silvopastoral systems.
Costa Rica
The following institutions were recognized in Costa Rica: Cooperativa de Ahorro y Crédito y Servicios Múltiples Alianza de Pérez Zeledón R.L. (COOPEALIANZA) and Cooperativa de Ahorro y Crédito de la Comunidad de Ciudad Quesada, R.L. (COOCIQUE).
In Costa Rica, through Project CAMBio’s financing program for Biodiversity-Friendly (BF) MSMEs has granted a total of US$1.21 million, representing 21 credits. Its Technical Assistance Program has provided a total of US$83,238.69, benefitting a total of 1,411 people. In addition, Bio-Awards totaling US$75,848.98 have been presented to 582 people.
The sectors that have received the most support in the country are organic agriculture, coffee agroforestry and sustainable tourism.
