IIC, Costa Rican Chamber of Industries and BAC San Jose to partner with GREENPYME in Costa Rica

02/17/2011

The IIC's GREENPYME program aims to help SMEs become more competitive by promoting energy efficiency and clean technologies.

San José, Costa Rica - On February 17, 2011, the Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank (IDB) Group, signed a memorandum of understanding with the Costa Rican Chamber of Industries and with BAC San José, a member of the BAC|CREDOMATIC financial network, to partner in promoting energy efficiency projects through the IIC's GREENPYME program. The purpose of this partnership is to promote SME participation in energy audits, improve their energy efficiency, and facilitate their access to financing from local banks for energy efficiency projects.

The purpose of the GREENPYME program in Central America is to promote energy efficiency among SMEs in Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua. GREENPYME aims to help overcome the main obstacles impeding the implementation of good energy practices, including lack of information and capacity, and scarce access to financing, technology, and products.

GREENPYME provides SMEs with information and training through energy audits and consulting services that include seminars, analytical tools, and technical support. In addition, GREENPYME provides access to "green" financing by leveraging partnerships with local banks. The GREENPYME Central America program will be launched in the second quarter of 2011 and implemented over a three-year period. The program will receive financing primarily from the Nordic Development Fund, through the NDF-IIC Trust Fund. It will also receive support from strategic partners in the Central America region.

In thanking the IIC and BAC San José for their interest in the cooperation agreement, Costa Rican Chamber of Industries President Marco Meneses stated that "In the face of increasingly volatile oil prices and greater vulnerability to climate change, today the cost of energy is becoming a key factor for the sustainable competitiveness of our industries."

According to Javier Sancho Guevara, Corporate Banking and Leasing Manager at BAC San José, "The Costa Rican Chamber of Industries and the IIC share our commitment to the environment and to the development of enterprises. The initiative that we have established today is so relevant because it provides companies with access to a comprehensive package of technical support and, in some cases, financing options to ensure their success as businesses while promoting environmental and social development."

According to Jorge Roldán, the IIC's Technical Assistance and Strategic Partnerships Division (TAS) Chief, "Establishing agreements such as this one is key to the IIC’s mission of promoting the sustainable development of SMEs in Latin America and the Caribbean. One of our goals is to encourage SMEs to invest in energy efficiency because it is good not only for the environment, but also for business. This is why we hope to continue to have the support of donors such as the Nordic Development Fund and the government of Austria, as well as entities such as the Costa Rican Chamber of Industries and BAC|CREDOMATIC."

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.int

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.

Contact: Katrin Reinhart

Telephone: (202) 623-2877

Email: katrinr@iadb.org