Promotion of environmental sustainability action plan for the region

Mexico City, August 13, 2019. - The Central American Bank for Economic Integration (CABEI) participated in the preparatory meeting of the new Action Plan for the Mesoamerican Environmental Sustainability Strategy, which aims to define actions to be carried out and identify and coordinate between the instruments prepared and presidential mandates of the Tuxtla Dialogue and Concertation Mechanism.

At the event, CABEI made known the constant work and financial support it provides to regional projects aimed at improving the environment, conserving natural resources and mitigating climate change. At the close of 2018, CABEI had 19 regional initiatives under execution or formulation processes to attend the agenda of the Central American Integration System (SICA). Noteworthy actions mentioned include:

- Productive Investment Initiative for Adaptation to Climate Change (CAMBio II).
It should be noted that in the pillar of climate change, the Board of Directors of the Green Climate Fund (GCF) approved the first financing to CABEI in the amount of US$15.5 million for the Productive Investment Initiative for Adaptation to Climate Change (CAMBio II). Of these resources, US$12.5 million will be used to finance loans and US$3.0 million to finance technical assistance and incentives for MSMEs and Financial Institutions in Guatemala, Nicaragua, El Salvador, Honduras, Costa Rica, Panama and the Republic Dominican that implement climate change adaptation actions.

- Project to Increase Climate Change Resilience in the Central American Dry Corridor and Arid Zones of the Dominican Republic, in conjunction with the United Nations Food and Agriculture Organization (FAO). CABEI granted non-reimbursable financial cooperation to FAO for US$1,536,500 to prepare at least three country proposals focused on the agricultural sector of the region in compliance with GCF formats.

- Ecosystem-based adaptation and transformation measures to increase resilience to climate change in the Central American Dry Corridor and Arid Zones of the Dominican Republic in conjunction with UN Environment. CABEI granted non-reimbursable financial cooperation to the United Nations Environment Program (UN Environment) for US$985,587 in 2018 to prepare a full financing proposal in accordance with GCF formats of an integral project for the Central American dry corridor and arid zones of the Dominican Republic.

- CABEI allocated non-reimbursable financial cooperation for US$125,000 to carry out the mid-term evaluation of the implementation of the 2015-2020 Regional Environmental Strategy, streamlining its action framework based on new commitments and a portfolio of projects in partnership with the Bank.

Participants at the meeting included members of the Interinstitutional Technical Group and partners of the Mesoamerica Project, among them: Latin American Development Bank; Inter-American Development Bank, through its Regional Public Goods Program; and the United Nations Environment Program.