Central America fund receives huge loan to fight global warming

February 14, 2012

The German bank KFW granted a loan to the Central American Bank for Economic Integration (CABEI) for $65 million to fight global warming and support infrastructure projects, officials announced this week.  

CABEI said in a statement that the $65 million received from Kreditanstald für Wiederaufbau (KfW) will support the “largest wind farm in Central America” ​​in Cerro de Hula, Honduras, as well as an Electric Interconnection System for Central American Countries (SIEPAC).

CABEI’s CEO, Nick Rischbieth, thanked the KfW for the credit and stated that the German bank “is the largest bilateral creditor” of the Central American regional financial institution.

Since 2003, CABEI and KfW have signed eight loans totaling more than $280 million. The majority of the funds have been invested in promoting renewable energy.

Headquartered in Tegucigalpa, CABEI was founded in 1960 by Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica. Partners include Mexico, Taiwan, Argentina, Colombia, Spain, Panama, Dominican Republic and Belize.

You may be interested

Victorious Champions coach celebrates Costa Rica-style: ‘This is pura vida’
Keylor Navas
94 views
Keylor Navas
94 views

Victorious Champions coach celebrates Costa Rica-style: ‘This is pura vida’

Katherine Stanley - May 27, 2018

Costa Rican superstar goalie Keylor Navas has made his mark on the field for Real Madrid, but also on the…

5 questions for Costa Rican artist Rossella Matamoros
Weekend Arts Spotlight
83 views
Weekend Arts Spotlight
83 views

5 questions for Costa Rican artist Rossella Matamoros

Elizabeth Lang - May 27, 2018

Using art in all its possible expressions has motivated Rossella Matamoros for more than two decades. At home in Costa Rica…

Costa Rica’s Keylor Navas, Real Madrid nab third consecutive Champions title
Keylor Navas
176 views
Keylor Navas
176 views

Costa Rica’s Keylor Navas, Real Madrid nab third consecutive Champions title

Katherine Stanley - May 26, 2018

Costa Rica's star goalie, Keylor Navas, continued his historic march through world football as his club team, Real Madrid, won…