With the support of CABEI, the European Union and the Government of Germany, sustainable construction will be promoted in Costa Rica

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A total of 200 Grupo Mutual employees will be trained through the Green MSMEs II Initiative.

San José, March 13, 2024.- In order to train a total of 200 Grupo Mutual employees in Costa Rica in sustainable construction, the Central American Bank for Economic Integration (CABEI), through the Green MSMEs II Initiative, with the financial support of the German government through KfW and the European Union (EU), signed a US$10,000 non-reimbursable technical cooperation agreement with this allied financial institution.

The creation of this program will support micro, small and medium-sized enterprises (MSMEs) interested in developing sustainable construction projects and responds to the need to develop a culture oriented towards environmentally friendly construction, making known not only the benefits for the planet, but also for the competitiveness and sustainability of the construction sector.

Executives, analysts, customer service managers, professionals, supervisors and external advisors, such as engineers and supervising architects, will be trained in climate change, social responsibility and sustainability, sustainable construction and its economic and financial benefits, as well as in the VUIS (Inclusive and Sustainable Urban Housing) housing modality.

The Green MSMEs II Initiative contributes to an effort such as Grupo Mutual's, as it seeks to protect the climate and the environment by creating and offering appropriate, efficient and sustainable financial products for the sector with investments in renewable energy, energy efficiency and cleaner production.

At the regional level, this initiative has supported MSMEs, providing more than US$40 million in loans and more than US$7 million in guarantees, protecting more than 10,000 jobs in more than 600 companies. In Costa Rica, more than US$4.9 million in loans have been granted, more than US$720,000 in guarantees, and more than US$175,000 has been invested in technical assistance to strengthen the technical capacities of MSMEs in green investments, including sustainable construction, electric mobility projects, and investments in fleet renewal with electric vehicles, among others.

The Green MSMEs II Initiative is one of two major initiatives that the European Union, KfW, and CABEI are implementing in Central America to improve access to financing and capacity building for MSMEs in the region. The DINÁMICA II Initiative is another effort that focuses on new, young, and innovative enterprises. Both initiatives are aligned with the European Union's Global Gateway strategy, which seeks to promote green and digital, socially just transitions throughout Latin America. It is a comprehensive and inclusive strategy that fosters EU-LAC investment and cooperation, both from the public and private sectors.