Helping SMEs to become more competitive through energy efficiency: IIC launches GREENPYME in Central America

08/14/2011

San José, Costa Rica – The Inter-American Investment Corporation (IIC), in cooperation with BAC|CREDOMATIC, will be holding energy efficiency training workshops for entrepreneurs throughout Central America—Costa Rica (August 17), Nicaragua (August 22), El Salvador (August 24), Honduras (August 26), and Guatemala (August 30)—as part of the launch of its GREENPYME program in Central America. GREENPYME, an IIC program that supports SMEs to help them become more competitive by promoting energy efficiency and clean technologies, seeks to inform small and medium-sized enterprises about energy savings potential by providing them with know-how about energy efficiency and raising awareness about the role of energy efficiency as a tool to improve their competitiveness in a market of volatile energy prices. More than 250 companies are expected to participate.

By leveraging partnerships with local banks such as BAC|CREDOMATIC, GREENPYME provides access to green financing, and thus assists in improving access to financing for energy efficiency measures and energy audits. Each of the workshops will include a series of successful case studies, where SMEs that have already implemented energy efficiency measures will describe their experience and lessons learned. The participation of international companies such as Siemens and Schneider will add value to the events as they will highlight the newest available energy efficiency technologies. Enterprises that participate in GREENPYME Central America may receive free technical assistance for energy audits and clean technology viability studies to detect energy inefficiencies within their facilities. Companies interested in participating in the GREENPYME workshops can register through the GREENPYME website, GREENPYME.iic.org

According to Jorge Roldán, IIC Technical Assistance and Strategic Partnerships Division Chief, "GREENPYME is characterized by a hands-on approach. Its launch in Central America is necessary given the high cost and inefficiencies in the field of energy that negatively impact the competitiveness of SMEs in the region. The program focuses on providing access to knowledge and state of the art technology for SMEs often only accessible to larger companies."

The program will be implemented within the next three years. It will receive financial support primarily from the Nordic Development Fund, through the NDF-IIC Trust Fund. It will also receive support from strategic partners in Central America.

About the BAC|CREDOMATIC Financial Network

The BAC|CREDOMATIC financial network is a leading financial services and payment and credit card services company in the Central American region, with a presence from Mexico to Panama. For more than fifty years it has been offering innovative products to facilitate the exchange of goods and services for families and businesses across the region. Its Social Responsibility Program includes the development of small and medium-sized enterprises, with a focus on strengthening production chains that ensure their sustainable growth and success.

About the IIC

The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. It does so by providing financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. In 2010, the IIC reached US$1.4 billion in assets and approved forty-nine operations channeling US$374.8 million to SMEs in the region For more information on the IIC’s activities, please visit www.iic.org

Contact: Katrin Reinhart

Telephone: (202) 623-2877

Email: katrinr@iadb.org