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Add to Preferred SourcesThe Central American Bank for Economic Integration (CABEI) and the Green Climate Fund (GCF) signed a framework agreement for the “Initiative for Productive Investments Adapting to Climate Change (CAMBio II).”
The program will have a duration of five years and availability of up to US$28.0 million; this includes a financial contribution from the GCF for up to US$15.5 million, of which US$12.5 million will be reimbursable and US$3.0 million non-reimbursable, as well as a CABEI reimbursable financial contribution for up to US$12.5 million.
CABEI Executive President, Dr. Dante Mossi commented that “We are very honored to have formalized the first agreement with the Green Climate Fund which enables us to channel financial resources for the financing of climate change adaptation measures of the region’s Micro, Small and Medium Enterprises (MSMEs). We are very happy with this association and hope that it will be the first of many initiatives to be jointly carried out together in the Central American region.”
He added that the entity aims to continue promoting this type of investment in the region and supporting its member countries in compliance with the Paris Agreement and the Sustainable Development Goals.
The Initiative aims to increase the resilience to climate change of 5,000 MSMEs in Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama and the Dominican Republic through access to financial and non-financial resources in order to adopt and apply the best climate change adaptation measures. In total, the Initiative will lead to improved climate change resilience, benefitting 69,720 people.
Original source: BCIE
Published on 21 June 2019