CABEI signs three agreements with German government

Tegucigalpa, April 17, 2015. – In order to foster the sustainable development of the Central American region through job creation, poverty reduction and mitigation of the greenhouse gas effect, the President of the Central American Bank for Economic Integration (CABEI), Dr. Nick Rischbieth, and the German Government Ambassador, Beatrix Kania, signed three important agreements today.

The first of the agreements will be destined to the “Program of Entrepreneurial Development and Promotion of MSMEs in Central America" and amounts to 40.0 million euros. This program seeks to contribute to job creation and to guaranteeing incomes in Central America, thereby contributing to economic development and poverty reduction in the region.

The objective of the second agreement is to strengthen the "Program of Renewable Energy and Energy Efficiency III" and totals up to 64.0 million euros; it seeks to promote the dissemination of renewable energy use and energy efficiency technologies in the region, contribute to ensuring the sustainability of renewable energy and energy efficiency investments and contribute to environmental protection on a regional level.

The third agreement targets the financing of the “Program to Promote Geothermal Energy in Central America" and amounts to up to 100.0 million euros; its objective is to promote geothermal energy in Central America in order to contribute to the diversification of electrical energy production and to promote renewable energy generation in the region.

With the signing of these agreements, which involve a total investment of 204.0 million euros, CABEI and the German government confirm their commitment to supporting the Central American region in its efforts to deal with these important issues.