The Central American region's small and medium enterprises will soon be able to receive "green" credits.
The Central American Bank for Economic Integration signed an agreement with two groups: the small and medium green enterprise initiative (MIPYMES Verdes) and Katalysis Network, to give training to the region's microfinance companies regarding renewable energy, energy efficiency and projects that contribute to the protection of the environment.
Under the program, the financial institutions will strengthen their ability to analyze efficient energy projects carried out by small enterprises, in order to provide them with financing for those projects.
The idea is that the program will improve the life quality of people involved in small companies, which generate thousands of jobs across the region, by helping them save money with their energy bills and implementing efficient energy practices.
The agreement also represents a boost to the region's goal of shifting from fossil fuels to green resources.
MIPYMES Verdes (only in Spanish) is a project by the Central American Bank for Economic Integration, German development bank KfW and the European Union that seeks to promote green energy practices in Central America's small companies.
Katalysis (only in Spanish) is a Honduras-based association that seeks to stimulate continued growth in the region through the microfinance industry. It offers services for those companies such as training, business consulting and research.