KfW consolidates a non-reimbursable financial contribution of EUR4.5 million for the preparation of climate investments focused on sustainable economic reactivation
The contribution of the German Financial Cooperation, through KfW, will promote the development of technical assistance for the preparation of initiatives that contribute to natural disaster management and adaptation to climate change.
Tegucigalpa, January 10, 2022.- With the objective of strengthening the preparation of climate change mitigation and adaptation projects and institutionalizing climate knowledge and tools at CABEI, KfW has made a non-reimbursable financial contribution in the amount of EUR4.5 million to the "Climate Change Investment Project Preparation Fund (FCC)" created by CABEI within the framework of the "Central American Resilient Reconstruction Program".
"CABEI continues to reaffirm its commitment to promote investments that seek the conservation and sustainable use of natural resources and we are certain that this alliance strengthens the cooperation links between Germany and our region in the face of the climate emergency we are facing," said CABEI Executive President, Dr. Dante Mossi.
Alexander Ehlert, KfW Director for Central America mentioned "Green recovery is key for the economies in Central America contributing to the fight against climate change. Preparing sustainable projects according to socio-environmental criteria takes time and we are happy to promote this preparation with non-reimbursable funds under the FCC of our partner CABEI."
It is expected that as a result of the technical assistance to be provided, a portfolio of projects will be generated for the benefit of the Bank's member countries, as well as identifying projects with a strong climate focus that can be co-financed with development partners, within the framework of the "Green Recovery Program in Central America", signed on November 10 between CABEI and said Institution for EUR250.0 million under highly competitive financial conditions for the countries. With this contribution, the availability of resources in the FCC amounts to US$16.2 million.
The FCC was created within the framework of the "Central American Resilient Reconstruction Program" to provide resources to finance projects that address and prevent natural disasters in order to adapt to the effects of climate change and implement short, medium and long-term measures.