Electromobility and MSME financing solutions promoted in Guatemala with CABEI support

Guatemala City, July 19th, 2021.- In order to support the implementation of modern, efficient and sustainable transportation, representatives of the private sector management of the Central American Bank for Economic Integration (CABEI) met with senior authorities of the Guatemala Municipality to discuss urban mobility alternatives to improve the movement of people in the capital city.

One of these alternatives is the introduction of electric buses on line 5 of the Transmetro, a project promoted by the Municipality and supported by CABEI with a non-reimbursable cooperation grant of US$40,000 granted in February to carry out the feasibility study and prepare the bidding conditions. The study is expected to be completed in October 2021.

Another initiative that CABEI is supporting is the development of the AeroMetro, a public transportation system using a 100% electric overhead cable with a distance of 8.9 kilometers for one of the routes with the highest vehicular flow in the Guatemalan capital. The project was awarded in November of last year to a private company by municipal concession through an international public bidding process.

"The increase in population, density and size of cities generate great challenges for urban mobility in the Central American region, which leads us to promote the modernization of public transportation, identifying modern and sustainable solutions that focus on people and the environment. We are pleased to know that Guatemala has initiated these projects and we at CABEI confirm our technical and financial support to make them a reality and improve Guatemalans' quality of life," commented CABEI Executive President, Dr. Dante Mossi.

As part of the visit of CABEI's private sector manager, Carlos Gómez, and of the joint efforts with strategic allies to contribute in a timely manner to the dynamization of the Guatemalan economy, meetings were held with relevant actors to promote and increase the provision of financial services to the business sector through the promotion of the Financial Sector Support Facility for MSMEs, as well as financing for private electromobility initiatives.