CABEI has an impact on MSMEs in renewable energy and agriculture

29 June 2018

CABEI has an impact on MSMEs in renewable energy and agriculture

The Central American Bank for Economic Integration (CABEI) has had an impact on green MSMEs and agribusinesses in the region, contributing more than US$43 million to strengthen trade linkages, boost the sector, and diversify the economy.

With the Green MSMEs programs, CABEI promotes the identification and measurement of its renewable energy sources, being induced to undertake their use for self-consumption or injection into the grid, without leaving aside the traditional economic activity.

In Honduras and Costa Rica, environmental sustainability support programs have promoted projects aimed at boosting energy efficiency, benefiting companies that aim to reduce their consumption.

By initiating parallel low-carbon activities, the agricultural sector has entered new markets, positioning its products in a new way, since by adopting “Zero Waste or Cleaner Production” practices it has achieved healthier production conditions for both their company and its customers.

In commemoration of the “Day of Micro, Small and Medium Enterprises” on June 27th, CABEI reiterates its financial support to this sector, which in 2017 benefited with more than $75 million as a tool to catapult its capacity to generate new business lines. The organization has programs that provide attention to MSMEs sectors related to the impact of climate phenomena, agribusiness, biodiversity, factoring and energy.

Financial Support

Participation in training and development opportunities reinforces the institution’s commitment as a financing instrument aimed at boosting economic growth and generating employment.

In the last ten years, MSMEs have played a key role in the economies of the region, with technological services being one of the most dynamic in Costa Rica and Guatemala.

In Guatemala, the Support Program for MSMEs affected by natural disasters has disbursed US $2,370,000.00 in 2018 to those who have suffered losses in their businesses due to rains and droughts.

The beneficiaries located mainly in western Guatemala (Quetzaltenango, San Marcos, Totonicapán and Chimaltenango) have received working capital financing to replace inputs, raw materials, machinery and equipment to enable them to continue their activities.

The Women’s Economic Financing Program has promoted women’s empowerment and economic autonomy in Nicaragua, helping to generate access to credit for women entrepreneurs and businesswomen.

Original source: BCIE
Published on 27 June 2018