Central America fund receives huge loan to fight global warming
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.
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