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Latin America Investment News on Viva Tropical

$30 Million Loan Targets Renewable Energy and Businesses in Guatemala

Article Summary:

The Central American Bank for Economic Integration (CABEI) granted a loan of U.S. $ 30 million to Guatemalan Bank Agromercantil (BAM) to promote renewable energy projects and support micro, small and medium businesses.

Photo Credit: Prensa Libre

Original Article Text From Prensa Libre via Google Translate :

BAM receives $ 30 Million

The Central American Bank for Economic Integration (CABEI) granted a loan of U.S. $ 30 million a Bank Agromercantil (BAM) to promote renewable energy projects and supporting micro, small and medium businesses, reported yesterday that regional body.

The regional bank granted a loan millionaire BAM for small businesses.
January 1 The resources will enable the BAM “address-lending operations by funding earmarked in the intermediate credit programs CABEI”, which also supports housing, foreign trade and biodiversity, in a statement detailing the financial institution.

The entity describes the initiatives that “benefit” are those “that generate energy through hydro, wind, biomass, geothermal and solar,” contributing “to reducing emissions of greenhouse gases that cause climate change “he added.

The credit agreement was signed in Guatemala City by the manager of the BCIE for Guatemala, Florentino Fernandez and legal representative of the BAM, Stuart Daniel Villatoro.

Headquartered in Tegucigalpa, CABEI was founded in 1960 by Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica. As partners outside the region has to Mexico, Taiwan, Argentina, Colombia, Spain, Panama, Dominican Republic and Belize.

And potential future energy projects may have an innovative funding mechanism that will enable them to implement their initiatives and lead to greater participation of renewable energy in the energy matrix Guatemalan, says the company.

Guatemala has abundant surface water resources and uses little power generation.

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From Prensa Libre

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