CABEI channels resources through financial institutions to promote electromobility in Costa Rica


Disbursements of US$12.5 million are available to Promerica's, Banco BCT's, and Financiera CAFSA's clients.

San Jose, April XX, 2022.- In line with its commitment to contribute to the reduction of emissions generated by private transportation, the Central American Bank for Economic Integration (CABEI) made the first disbursements aimed at financing private vehicles that use electric or hybrid technology.

Disbursements totaled US$12.5 million; US$10,000 were channeled through Banco Promerica, US$1,500 through Banco BCT, and US$1,000 through Financiera CAFSA, resources that clients can access under competitive conditions, with a grace period, fixed rate, and up to a 5-year term.

"Electromobility is a priority issue for CABEI. We currently support initiatives based on three major components, such as the development of resilient transportation infrastructure, the change of mass transportation modes and the development of new technologies, which is why these first disbursements to the Costa Rican private sector focused on individual transportation of people generate a lot of enthusiasm for us, since they represent a comprehensive approach to our contribution," explained CABEI Executive President, Dr. Dante Mossi.

Half of the emissions generated in Costa Rica come from the transportation sector according to the 2015 National Greenhouse Gas Inventory. Currently only 2,529 vehicles out of the two million circulating in the country are electric, so with these resources in the market more people will be supported to replace them.

On the other hand, CABEI promotes several electromobility mass transportation projects in the region, such as the Electric Train of the Greater Metropolitan Area and the Limonense Electric Freight Train (TELCA) in Costa Rica; as well as the overhead cable public transportation network for the municipality of the Central District in Honduras, the replacement of hybrid or electric taxi fleets in the cities of Tegucigalpa and San Pedro Sula, and the introduction of electric buses in Guatemala's Transmetro, among others.