IIC, KEMCO Train Bolivian Energy Auditors in Korea

06/20/2014

GREENPYME training program brings expertise in energy effciency to Bolivia

Seoul, Korea, June 20, 2014 — The Inter-American Investment Corporation (IIC) and the Korea Energy Management Corporation (KEMCO) have trained eight Bolivian energy auditors on energy efficiency in Seoul, Korea, leveraging Korean know-how to raise Bolivia’s profile in the area.

The six-day training program is part of the IIC’s GREENPYME initiative and opens up new job opportunities for the energy auditors in Bolivia.

Ryong Hwan Na, Vice President of KEMCO, noted: "I hope Korea's energy audit technology and experience greatly help Bolivia improve on energy efficiency and sustainable energy development. We trust KEMCO, IIC, and Bolivia will continue to cooperate in the future."

Jorge Roldán, chief of the IIC’s Technical Assistance and Strategic Partnerships Division, noted: “The expertise and experience of KEMCO’s specialists has been invaluable for the success of this energy efficiency training program. The IIC and KEMCO signed a memorandum of understanding in 2012 and we are looking forward to continuing our strong partnership to help build capacity across Latin America and the Caribbean in the field of energy efficiency. Our common objective is to increase the number of small and medium-sized enterprises that gain access to the latest know-how and technology for sustainable development.”

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 technologies. GREENPYME is part of the IIC’s flagship FINPYME initiative and has supported close to 1,200 SMEs in Latin America and the Caribbean since its launch in 2008.

About the IIC

The IIC, a member of the IDB Group, promotes private-sector development in Latin America and the Caribbean with a focus on SMEs. We help companies streamline management processes and provide them with financing in the form of equity investments, loans, and guarantees, as well as innovative technical assistance, advisory services, and knowledge products. In 2013, the IIC approved 71 operations totaling US$415.4 million. Since its inception in 1989, the IIC has approved more than 800 direct loans to SMEs and financial intermediaries, for a total of US$5.21 billion. An additional US$3.01 billion has been mobilized through cofinancing and syndication agreements. For more information on IIC activities, visit www.iic.org.

Contact: Jorge Roldán

Telephone: +1 (202) 623-3948

Email: jorgero@iadb.org