IIC trains BAC officials on energy efficiency issues

05/05/2011

Washington, D.C. - During April 2011, the Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank (IDB) Group, and BAC|CREDOMATIC NETWORK (BAC) joined forces to hold a series of training workshops for over 40 BAC credit officers in Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua. These workshops set the stage for the launching of the IIC’s GREENPYME program for Central America, focused on helping SMEs take advantage of energy efficiency tools to reduce their energy expenses.

The training workshops will enhance BAC officials’ capabilities to develop green lines for SMEs as well as to increase their understanding of clean technologies. Topics included the importance of energy efficiency, trends in the latest technologies, regulatory and legal issues, due diligence of energy efficiency projects, management of risks, financial aspects of green investments, as well as opportunities in energy efficiency markets.

This training positions BAC as one of the few commercial banks in Central America with the appropriate set of skills and tools to develop green financial vehicles that will allow SMEs to invest in energy efficiency. By providing capacity building, the IIC furthers its commitment to provide solutions to overcome energy efficiency barriers by providing information, awareness, and access to financing.

GREENPYME aims to provide the necessary know-how and tools for SMEs to overcome the main obstacles impeding the implementation of energy efficiency practices, including lack of information and capacity, and scarce access to financing, technology, and products. The IIC’s GREENPYME program helps provide SMEs with access to "green" financing by leveraging partnerships with local banks.

These training sessions were made possible through the financial support of the Nordic Development Fund, through the IIC-NDF Trust Fund.

About BAC|CREDOMATIC NETWORK

BAC|CREDOMATIC NETWORK is a regional organization with physical presence in all Central American countries, Panama and Mexico established more than 50 years ago. It offers mainly commercial, corporate, and consumer banking services, including a significant credit card operation. A solid and leading institution in Central America, BAC|CREDOMATIC employs more than 15,000 people in the region. On December 9, 2010, BAC|CREDOMATIC was acquired by Banco de Bogotá, a member of Grupo Aval, which is Colombia’s largest financial group.

About the IIC

The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank 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

Contact: Katrin Reinhart

Telephone: (202) 623-2877

Email: katrinr@iadb.org