CABEI, the European Union and the Government of Germany contribute to positioning electric mobility in El Salvador

San Salvador, March 20, 2024.- With the objective of contributing to the education, promotion, and dissemination of electric and sustainable mobility, the Green MSME II Initiative of the Central American Bank for Economic Integration (CABEI), the European Union (EU) and the Government of Germany, through KfW, supported the holding of the first Electric Mobility Congress, organized by the Electric Mobility Association of El Salvador (ASOMOVES).

The Congress brought together exhibitors from Costa Rica, Colombia, and Mexico, who shared successful experiences on legislation and regulations for the correct promotion of electric mobility, the planning, management, and development of sustainable urban transport, and the adoption of electric micromobility in big cities.

More than 150 key actors in electric mobility in El Salvador, including MSMEs and enterprises in the sector, including academics, technicians, and government authorities, had the opportunity to interact and exchange reflections on the opportunities that electric mobility offers for the country. such as reducing greenhouse gas emissions and pollution.

Additionally, in view of the increase in demand for electric vehicles, the event offered a space for the exhibition of the models available in the country, with the aim of facilitating the generation of alliances between attendees.

“The transition towards a sustainable transportation model around the world is a priority of the Global Gateway. The Global Gateway is the cooperation strategy of the European Union with allied countries, in whose execution not only the EU, but also its Member States, private sector, and financial entities participate, working as “Team Europe”. To accelerate this transition, we support the development of transportation electrification in El Salvador and throughout Central America,” emphasized Mr. Miguel Varela, Head of Cooperation of the European Union in El Salvador.

For his part, Raúl Castaneda, CABEI Country Representative in El Salvador, highlighted that “the Green MSME II Initiative makes a strong commitment to supporting Central American MSMEs that invest in sustainable mobility, as we believe that the development model of “Our region must be based on respect and conservation of the environment, ensuring sustainability, and the quality of life of the population.” 

Green MSME Initiative II

The Green MSME II Initiative is a tripartite effort of the Central American Bank for Economic Integration (CABEI), the Government of Germany, through KfW and the European Union (EU) that aims to protect the climate and the environment, creating and offering adequate, efficient and sustainable financial products for the sector with investments in renewable energy, energy efficiency and cleaner production At the regional level, the Initiative has granted more than US$40 million in credits and more than US$7 million in guarantees, protecting more than 10 thousand jobs in more than 600 companies.

Additionally, and as part of the efforts carried out by the Green MSME II Initiative to promote sustainable mobility, on March 19, the Regional Sustainable Mobility Contest was launched, through which 18 MSMEs will be awarded at the regional level. Participants must register to receive the complete rules and present their proposals: https://www.bcie.org/concurso-mipyme