IIC and KEMCO Join Forces for Energy Efficiency in Central America

06/20/2012

Memorandum of understanding to expand capacity building activities under IIC’s GREENPYME program

Washington, D.C., June 19, 2012 — The Inter-American Investment Corporation (IIC) and the Korea Energy Management Corporation (KEMCO) have signed a memorandum of understanding, formalizing their joint commitment to developing energy efficiency and climate change programs for Central American small and medium-sized enterprises (SMEs).

The new partnership, struck under the IIC’s GREENPYME technical assistance program, will help train energy auditors and implement energy audits, identifying opportunities for greater energy efficiency and new investment in the sector.

“This agreement is a unique opportunity for KEMCO to partner with an international organization devoted to SME development in Latin America, providing expertise and adding value to the IIC’s energy efficiency programs”, said Dr. Huh Jeung-Soo, KEMCO president and CEO.

Steven Reed, the IIC’s Deputy General Manager, noted: “The IIC welcomes this new strategic partnership with KEMCO, who is uniquely positioned to promote energy saving policies, greenhouse gas mitigation and renewable energy sources. KEMCO’s knowledge and expertise in the energy efficiency field will make an invaluable contribution to the challenging tasks of capacity building and lowering energy efficiency barriers to investment in Central America.”

KEMCO is a public institution for the promotion of energy efficiency, renewable energy, and climate change mitigation. The agency aims to create an energy use culture that is responsive to climate change, promoting a more efficient use of energy resources and supplying technologies for new energy sources.

GREENPYME helps companies become more competitive, reducing their energy consumption costs and greenhouse gas emissions through the adoption of energy efficiency measures and investment in more efficient technology. GREENPYME is part of the IIC’s flagship FINPYME initiative and has trained close to 1,000 SMEs in Latin America and the Caribbean since its launch in 2008.

About the IIC

The IIC, a member of the Inter-American Development Bank (IDB) Group, promotes private-sector development in Latin America and the Caribbean with a focus on small and medium enterprises (SMEs). We help companies streamline management processes and provide them with financing in the form of equity investments, loans, and guarantees. In 2011, the IIC reached the symbolic one-billion-dollar mark in disbursements of own and third-party funds. Throughout our history, we have benefited more than 1.6 million SMEs in Latin America and the Caribbean. For more information on the IIC, visit www.iic.org.

Contact: Jorge Roldán

Telephone: (202) 623-3948

Email: jorgero@iadb.org